fbpx
QQQ
+ 2.19
278.28
+ 0.78%
DIA
-2.30
279.39
-0.83%
SPY
-1.15
340.63
-0.34%
TLT
+ 1.07
158.41
+ 0.67%
GLD
+ 0.53
178.00
+ 0.3%

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

Cannabis Movers & Shakers: Blueberries, Harborside, HEXO, Christina Lake, RespireRx

Here is a summary of the latest leadership changes within the cannabis industry. Blueberries Parts Ways With CEO Camilo Villalba  read more

Real Brands Closes Merger With Canadian American Standard Hemp

Real Brands Inc. (OTCPK: RLBD) confirmed Tuesday, it has finalized the acquisition of Canadian American Standard Hemp Inc. read more

Turning Point Brands Backs Cannabinoid Company Dosist With $15M

Turning Point Brands Inc. (NYSE: TPB) agreed to invest $15 million in Dosist, a cannabinoid company. The two companies opted to co-create a new CBD brand featuring thc-free products.  read more

Neptune Partners With Ontario Cannabis Store, Brings Products To 515 Canada Stores

Neptune Wellness Solutions Inc. (NASDAQ: NEPT) (TSX: NEPT) partnered with Ontario Cannabis Store to sell and distribute Mood Ring, a new proprietary recreational product line. Under the supply deal, the Mood Ring product line would be commercialized in 211 Ontario-based private retailers. read more

Flow Cannabis CEO On Post-Election Policy Hopes, Strategy On Heels Of Caldera Launch

Flow Cannabis Co. recently launched Caldera, a line of premium extracts, vape cartridges, oils, and concentrates defined by their purity, potency and flavor. read more