Cloud-native payments company Gr4vy bagged a Series A funding round of $11.1m led by Nyca Partners to build its newly launched payment orchestration platform.
The round saw participation from Activant Capital, Global Founders Capital and Firestartr, bringing its total funding to $12.2m.
The firm will leverage the funding to further support hiring initiatives, global growth and future product development.
This funding round comes months after Gr4vy brought in its first institutional funding round of $1.1m in December last year led by Activant Capital and Global Founders Capital.
Gr4vy provides retailers with individualised infrastructure in the cloud to increase the level of flexibility to manage payment stacks and scale. Gr4vy’s orchestration platform acts as a conduit between retailers’ shopping carts and payment providers by upgrading retailers’ payments stack
Through Gr4vy’s cloud-native payment orchestration platform, retailers can deploy alternative payment methods across the globe to ensure their customers have the options they need regardless of location. Its platform enables retailers get access to centralised reporting, monitoring and management, therefore, resulting in a single streamlined system.
Gr4vy’s benefits include a PCI1 Certified Gr4vy vault, a universal API, an easy modern checkout, no-code admin and centralized transaction reports.
For instance, Gr4vy’s no-code workflow engine allows retailers to build workflows that optimize transaction routing based on country, currency, time of day and create workflows to reroute transactions due to downtime. By integrating Gr4vy into their existing checkouts, retailers can automatically update their checkout page and reflect specific payment methods without rewriting code.
Commenting on the firm’s services, Gr4vy CEO John Lunn said, “At Gr4vy, we accelerate digital transformation by integrating the advantages of cloud computing into payment orchestration.
“We are the only payment orchestration platform built natively in the cloud. With our infrastructure and tools, retailers can expand and control their payment stack from anywhere. Gr4vy is also payment service provider agnostic. Retailers can mix and match providers, payment methods and route their transactions without being locked into a single ecosystem. This agility and flexibility ensures retailers never have to lose a customer or transaction again.”
The launch of Gr4vy comes at a key time for online retailers as the world moves from part online shopping to almost 100% online because of the pandemic.
Building on the firm’s scalability, Nyca Partners managing partner Hans Morris added, “Very few people in the world have as much experience and insight in international payments as John and his team. And their vision of what is needed for merchants is spot-on: a cloud-native tool to let businesses orchestrate and optimize their payments using their intuitive interfaces (no engineering!), robust security, and simple, seamless implementation. Much easier than managing today’s menu of complex, multiple payment platforms.”
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