PayNearMe Secures $50M to Advance the Future of Payment Experience Management
Today, PayNearMe, a leading fintech transforming the payment experience for non-commerce businesses and their customers, announced a $50 million Series E investment from AVP (Atlantic Vantage Point) through its Growth Fund I. The investment will accelerate PayNearMe’s expansion into new markets and fuel ongoing investment in products that simplify the end-to-end payment experience for its clients.
“PayNearMe has redefined what it means to deliver a modern payment experience. The company is uniquely positioned to solve challenges in a space long underserved and overlooked,” said Elizabeth de Saint-Aignan, General Partner and Head of Growth Fund, North America at AVP. “PayNearMe’s vision and proven execution are changing how non-commerce businesses approach payments, and we’re excited to support them in this next stage of growth.”
PayNearMe pioneered Payment Experience Management, a combination of software and money movement services that optimize every touchpoint in the payment journey across customers, support and operations. By accelerating payments and reducing the total cost of acceptance, PayNearMe helps its clients improve cash flow and profitability.
“For too long, payments have been treated only as a cost of doing business,” said Danny Shader, CEO of PayNearMe. “We see improving payments as a powerful opportunity to help businesses differentiate, drive customer satisfaction, and improve business results. AVP’s funding will allow us to deliver the benefits of Payment Experience Management to more clients and in new markets.”
As part of its ongoing product evolution and continued investment in Payment Experience Management, PayNearMe has renamed its platform to PayXM™—the industry’s first platform that is purpose-built to dramatically improve the end-to-end payment experience. PayXM enables businesses to manage the entire payment journey, for all major forms of payment and through the most popular channels, with a single platform and integration.
