fbpx
QQQ
+ 0.56
283.62
+ 0.2%
DIA
-0.40
284.13
-0.14%
SPY
+ 0.98
343.66
+ 0.28%
TLT
+ 0.96
156.09
+ 0.61%
GLD
-0.17
179.00
-0.1%

AeroPay Secures Seed Round Financing

September 29, 2020 1:59 pm
Share to Linkedin Share to Twitter Share to Facebook Share to Print License More

The financial technology company AeroPay has finalized a seed-funding round.

The exact amount it raised was not disclosed.

Continental Investors led the effort. The Chicago-based firm's portfolio includes e-commerce marketplace Drizly, publicly-traded financial technology company Sezzle, as well as WePay and LevelUp.

Previous angel investors, as well as new strategic investors coming from the tech and financial services industries, also participated in the financing round.

AeroPay noted Tuesday that it intends to use the proceeds to boost growth, add talent, improve product capabilities and scale operations.

AeroPay chief executive Daniel Muller says the goal is to "simplify the payments process for owners and operators in all industries and verticals." He also highlighted how the expertise at Continental Investors "aligns perfectly with the type of company we've set out to create."

In July, AeroPay launched a new suite of digital payment solutions intended for businesses within the cannabis industry. The newly introduced tech allows digital payments by utilizing so-called "smart bank transfers" to enable business-to-business (B2B) and customers-to-business (C2B) transfers. 

In addition, the company also partnered with Safe Harbor Private Banking recently to provide CBD, cannabis, and non-plant touching ancillary service businesses with a payment solution.

As a part of the strategic partnership, AeroPay opted to employ its technology to streamline the payment process. At the same time, Safe Harbor Private Banking agreed to provide banking services, as well as processing transactions.

Courtesy image

Posted-In:

Cannabis News Financing

Related Articles

Precision Extraction Solutions Is On The Hunt For Capital

Precision Extraction Solutions is hoping to raise at least $10 million in venture capital.  That's according to the Troy, Michigan-based company's founder and CTO Nick Tennant. read more

Cannabis Regulatory Update: SD Gov Says 'No' To Legalization, PA Tweaks DUI Law

South Dakota Gov. Urges Against Marijuana Legalization As Election Day nears on Nov. 3, and five states consider some form of cannabis legalization, South Dakota governor Kristi Noem is advocating against marijuana. read more

Organigram Invests In Hyasynth Biologicals, Parts Ways With Executives

Organigram Holdings Inc. (NASDAQ: OGI) (TSX: OGI) has invested an additional $2.5 million in a private biotechnology company Hyasynth Biologicals Inc. read more

Cannabis Movers & Shakers: Avicanna, Halo, Blockers BlockChain, Fyllo, Pet Releaf, Indus

Peruse the latest corporate shake-ups in the cannabis industry: Avicanna, Halo Elect Directors At Annual General Meetings of Shareholders read more

Chelsea Handler Launches Kit Featuring Her Favorite Cannabis Products

Timed to coincide with the premiere of Chelsea Handler’s stand up special, “Chelsea Handler: Evolution,” Sweet Flower has joined forced with the comedian to introduce the Evolution Kit, a curated set featuring Chelsea’s favorite cannabis products. read more