Text-based payment processing system Everyware has closed its Series A round to help expand its verticals of operation.
FinTech-focused investment firm TTV Capital led the round, with contributions also coming from Kinetic Ventures, RZC Investments, Capital Factory, and Naples Tech Ventures.
Alongside investment firms were a number of angel backers including Campbell B. Lanier, III, Ray Pawlikowski, Jason Dorsey, Mike Abbaei, and Bill Scott.
Priority with the new capital is being put on sales and marketing efforts to help keep its growth momentum. Additionally, the equity will be used to support the expansion into the healthcare, pharmacy, utilities, and hospitality verticals.
The FinTech combines text communication with payments to give merchants a more convenient way to collect payments.
Its platform sends automated text receipts after every purchase to authorise and validate payments and mitigate fraud incidents. Through the app, a merchant can collect payments, text receipts, send bill reminders, send secure â€˜click to purchaseâ€™ texts, and boost post-sale communication.
By using text messages, if a consumer has a question regarding a purchase, they can simply reply to the message and get an answer directly from the vendor.
Everyware CEO and founder Larry Talley said, “Businesses are just scratching the surface with how they can utilize mobile devices to communicate, support and transact with their customers. There are endless use cases in every vertical, and we’re ready and able to help all of them.
“Having the support of TTV and our other investors, including some of the most respected individuals in the fintech space, gives us a strategic advantage and heightened ability to fulfill on our vision.”
TTV has made a number of FinTech investments this year. Most recently, the firm participated in the $54m Series B of Greenlight Financial Technology, a platform which helps educate children about finance through a debit card and personal finance app.
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