Payment Rails closes seed round, grows funding to $1.1 mln
Toronto-based financial technology startup Payment Rails has closed a seed-stage financing, bringing its total funding to $1.1 million. The seed round was backed by angel investors, including financial executives like Scott Thompson, the former president of PayPal. With the deal, Thompson joins the company as a board advisor. Founded in 2015 by President Ferhan Patel and CEO Tim Nixon, Payment Rails has developed an API-first payouts platform that enables companies to send payments to on-demand workers, employees and suppliers globally. It is currently in public beta, with an official launch scheduled for next month.
10 October 2017•4 mins read
