Aeropay, an A2A payments company, raises $20m
Fintech payment from account to account in American open banking Group 11 is leading a $20 million Series B fundraising round for Aeropay.
The investment was joined by Continental Investment Partners and Chicago Ventures, and the money raised would go toward product development and market expansion.
A proprietary bank aggregator is used by Aeropay's platform to link bank accounts, and a comprehensive set of open APIs allows for customizable integrations.
The company is processing over $1 billion in volume annually and has grown its revenue by 10X in the last year. It is expected to reach cash-flow profitability in Q4 2023.
According to Daniel Muller, CEO of Areopay, "We've built a bank-driven payments network that protects businesses against fraud, saves them money, and gives their customers an easy way to pay."
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