Amaryllis Payment Solutions, which provides a payment facilitation platform, has raised $10m in Series B funding.
The round saw participation from FINTOP Capital and partner, JAM FINTOP, an investment fund designed to help develop and accelerate technology adoption at community banks across the United States.
Amaryllis provides a payment facilitation platform for financial institutions, software & SaaS companies, so they can better monetize the payments flowing through their service and boost their revenue and business valuation.
According to Amaryllis, its solution means clients can get payment facilitation tools in one platform, so they don’t need to hire an expensive tech team, or patch multiple vendors together, which means they can go to market faster.
From merchant underwriting, payment acceptance, split fees, white-labelled partner portal, flexible payouts, and risk management – Amaryllis said its clients can quickly underwrite and onboard merchants, start processing payments, and rest easy knowing everything is in compliance with AML, KYC, and the card network rules.
The company said the funds will be used to accelerate product development and expand its marketing and sales efforts.
Ori Hay, co-founder and CEO of Amaryllis, said, “Software led payments is one of the most attractive verticals in the market. When we started Amaryllis, we embarked on a journey to create the best payment platform so financial institutions can easily enhance and modernize their legacy infrastructure to adjust to the ever-changing payments landscape and requirements.
“Today marks a major milestone in our journey to reach that goal. We are grateful to our partners at FINTOP capital and JAM FINTOP that share our passion for the payments space, and excited to continue to innovate and deliver solutions that make payment facilitation simple.”
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