$20 million in Series B investment was secured by Aeropay, a Chicago, Illinois-based company that offers Pay-By-Bank solutions to businesses.
Investors
- Group 11
- Chicago Ventures
- Continental Investment Partners
Use of funds
The money will be used by the business to grow its operations, create new products, strengthen its alliances, and look into greenfield projects.
The business is now growing into new areas including financial services, healthcare, utilities, QSR, and property management after seeing early success in highly regulated industries.
The firm processed over $1 billion in volume yearly and had a 10X increase in revenue over the previous year when the investment was received. In Q4 2023, Aeropay achieved cash-flow profitability.
About Aeropay
Aeropay is a financial technology firm that offers open banking and account-to-account payment solutions for businesses. It is led by CEO and Founder Daniel Muller. Businesses may use it to provide customers with safe online and in-store digital payment options. The business just unveiled Aerosync, a domestic bank aggregator, which the platform uses to link bank accounts. It makes customisable integrations possible using an extensive set of open APIs.
