back Back

PayUp announces partnership with nFusion Capital

By Edlyn Cardoza

November 23, 2022

  • Austin
  • Credit Management
  • Financing Solutions

PayUp, Rex, nFusion Capital, SMBs, Working Capital Finance, Financing Solutions, Austin, USAA Rex company, PayUp, a technologised early payment solution for small and medium-sized businesses ensuring convenient and affordable access to capital, has partnered with Austin-based nFusion Capital, a private working capital finance company delivering customised financing solutions to small and medium-sized businesses.

“Labor and materials prices are expected to continue to rise due to inflation and shortages, and 87% of vendors don’t qualify for traditional lending,” said Peter Rex, Founder and Executive Chairman of Rex. “PayUp is building technology to manage the arbitrage in credit worthiness between these vendors and customers. A line of credit from a partner like nFusion Capital is only going to help PayUp meet that rising demand.”

The payment solution partners with businesses and their customers to expedite payments providing a fully integrated experience that seamlessly fits into existing invoicing workflows and provides instant verification and early, predictable payouts.

“We are excited to partner with PayUp and provide the capital they need to continue to grow their market,” said Jason Lippman, CEO of nFusion Capital. “In a world where many companies hide behind jargon and fake tech, PayUp is the real deal. It is fin-tech that has developed a truly one-of-kind platform built with technology that solves a real-world problem and we look forward to their continued success.”

“This line of credit will allow PayUp to factor $50M+ in invoices & achieve a multi-million dollar ARR,” said Denver Lobo, co-founder, and CEO of PayUp. “As we partner with high credit quality customers, we expect to raise larger debt facilities at lower costs of capital, thereby generating margin expansion for our current investors,” said Lobo.

Since its May 2022 launch, PayUp has processed thousands of invoices totaling well over $1.5 million in payments. Over the next 6-12 months, the payment solution will focus on accelerating the growth of its customer base and hiring key personnel.

Previous Article

November 23, 2022

Vayana TradeXchange initiates its first transaction in partnership with VoloFin

Read More
Next Article

November 23, 2022

Qashio, a UAE-based FinTech raised $10m

Read More

IBSi Daily News Analysis

digital wallets

March 01, 2024


Banking Sector and regulatory framework: addressing India’s growing demand for secure lockers

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

March 01, 2024

Hecto Financial eases cross-border transactions with new solution

Read More

March 01, 2024

Marqeta & AffiniPay team to launch SMB credit card solution

Read More

March 01, 2024 activates Cartes Bancaires on Tap to Pay on iPhone in France

Read More

Related Reports

Sales League Table Report 2023
Know More
Global Digital Banking Vendor & Landscape Report Q4 2023
Know More
Wealth Management & Private Banking Systems Report Q4 2023
Know More
IBSi Spectrum Report: Supply Chain Finance Platforms Q4 2023
Know More
Treasury & Capital Markets Systems Report Q4 2023
Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
Get your copy now! IBSi Sales League Table 2023