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Qolo, an omnichannel payments platform raises $15M in Series A round

By Edlyn Cardoza

August 26, 2021

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Qolo, FinTech, Open Banking, USAQolo, the omnichannel payments platform for FinTech, recently announced that it has successfully closed a $15M Series A round of funding, led by The Raptor Group with additional participation from other professional investors and strategic partners.

“We experienced strong investor interest fueled by our unique value proposition and rapid pace of customer acquisition. The current FinTech climate is driving massive growth, and Qolo’s 100% cloud-native, omnichannel offering is perfectly positioned to meet the demand,” said Patricia Montesi, Qolo CEO. “And we have yet to see payments model we can’t power.”

In the past year, Qolo has tripled its staff, including C-Suite hires Chief Financial Officer, J. Peter Bardwick, Chief Client Officer, Betty Mitchell, and Dhruv Singh, EVP of Strategic Business Development. Qolo’s Series A funding allows the company to continue its expansion with additional talent growth, new product launches, and increased international focus. Last month, the company began rolling out the beta version of its Qolo Accelerator program, a unique engagement model allowing clients to quickly get to market, while maintaining product flexibility, program control and enhanced economics down the line.

Jim Pallotta, managing partner and founder of The Raptor Group, said, “We’ve always been focused on investing in companies to help them realize their vision faster, and we are thrilled to support the incredible growth and fantastic leadership team at Qolo. Its team has built a unique platform which future-proofs FinTechs. Raptor is heavily focused on the sector and has seen how Qolo can assist our other portfolio companies. We recognize how unique Qolo is and are excited to be partnering with them.”

Founded in 2018, Qolo is the omnichannel payments platform for FinTech, with a mission to help businesses navigate today’s complex payments and financial transactions landscape. Qolo empowers businesses to manage payments efficiently with an eye toward growth and reduced expense. Qolo supports companies wherever speed, security and cost of payment are important including gig worker payouts, distribution payments, multi-currency, and cross-border businesses and modern FinTech firms. Composed of experts and entrepreneurs in payments, Qolo’s founding team has more than a century of combined industry experience.

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