Digital payments are fast, convenient, cost effective and easy to track, which is why they’re disrupting the financial services market. The problem? Most legacy banking systems, which were built over the past three decades, don’t easily enable financial services companies to offer real-time payments. Payveris has solved this challenge. The company’s intelligent, API-centric, cloud-based digital payments and money movement platform empowers financial institutions to simplify, control and extend their range of consumer and business digital money movement capabilities to any application or device. This makes it easy for them to innovate, deliver low-friction experiences to users and compete with a growing number of non-bank fintechs.
- $3.2 million in equity investments, which enabled the company to leverage an additional $19.3 million
- Help sourcing a key staff member (CTO)
- Introductions to customers
- CI’s Peter Longo joined Payveris’s board
Today, Payveris, which makes its headquarters in Cromwell, has 42 full-time employees. The company’s most recent innovation is a real-time peer-to-peer payments platform with engaging personalized experiences provided by Vouchr, a company whose technology weaves a “personalized, and gamified experience into every money transfer, remittance, disbursement, incentive and reward.” Payveris also recently inked a combined $10M commercial and investment deal with Vystar Credit Union ($9B in assets), capping the company’s best quarter ever—it sold more in the first quarter of 2020 than in all of 2019.