Paywallet LLC, a Jacksonville, FL-based payroll-linked verification and remittance ecosystem, announced that attracted $14 million to date in funding including a recently closed $8.82 million Series A funding round.
The round was led by a new investor Pasaca Capital Inc., investors in the previous rounds, PruVista Capital LLC and Arcadia Funds LLC also participated in this round.
The latest round of investments will enable Paywallet to expand its sales and marketing efforts, build partnerships with other financial products and services companies, extend coverage to 95% of addressable end customers/users, help initiate growth internationally and bring scalable, decentralized applications to the lending industry through blockchain technology.
Company: Paywallet LLC
Raised: $14.0M
Round: Series A
Funding Month: February 2022
Lead Investors: Pasaca Capital Inc.
Additional Investors: PruVista Capital LLC and Arcadia Funds
Company Website: https://yourpaywallet.com/
Software Category: Payroll-linked payment and identity solution
About the Company: Paywallet is the only full life-cycle payroll-linked SaaS platform providing easy-to-integrate APIs to its clients for various lending use-cases. Paywallet places the borrower firmly and transparently in control of sharing their employment, financial records, and identity data for credit decision-making. Lenders and other institutions can leverage Paywallet’s technology to verify employment and bank information and establish payroll-driven remittance instructions for their customers.
Source: https://www.businesswire.com/news/home/20220216005525/en/Paywallet-Secures-14-Million-Funding