A2A Payments Company Aeropay Concludes $20m Funding Round
Please note that we are not authorised to provide any investment advice. The content on this page is for information purposes only.
Aeropay, a Pay-By-Bank solutions provider for businesses, has concluded its latest $20 million Series B funding round.
The round was led by Group 11, a fintech venture capital company based in Los Angeles. Other prominent companies like Continental Investment Partners and Chicago Ventures also participated in the funding.
Aeropay’s Year-On-Year Volume Exceeds $1 Billion
The funding came when Aeropay witnessed major success from last year. The payment company’s revenue grew ten times from the previous year, processing more than $1 billion in volume yearly.
Aeropay provides a secure, affordable, and faster means of transferring funds using its innovative Pay-By-Bank technology.
In the fourth quarter of 2023, the company announced that it had reached cash-flow profitability. It became financially self-sufficient and can produce a positive cash flow from regular operations.
The company’s platform utilizes a homegrown bank aggregator, Aerosync, that was recently launched to connect bank accounts seamlessly. It allows users to create personalized interactions or connections using a complete set of open Application Programming Interfaces with other software or systems.
The platform provides significant commercial benefits to businesses. These include achieving high approval rates within the industry and effectively reducing risks associated with returns and scams.
The Founder and Chief Executive Officer of Aeropay, Daniel Muller, stated that payments across many sectors are executed on vintage systems with high fees and risks. He noted that the company’s team has developed a payments network focused on banks.
Aeropay Aims To Protect Businesses From Potential Frauds
Muller also said that Aeropay safeguards businesses against potential scams. It also saves them money and provides users with a seamless way to pay. Furthermore, the company’s group is focused on developing the next-generation payments network.
Aeropay has secured its position as a leading account-to-account payment solutions provider. It uses a compliance-first strategy focused on providing collaborations with banks, regulatory counterparts, and partners.
The firm saw early success in well-regulated industries. It is extending its offerings to new markets like financial services, utilities, wellness, property management, and QSR.
Additionally, Aeropay aims to use the new funds to bring new products to market, explore greenfield opportunities, and foster more successful strategic partnerships.
Group 11’s Founding Partner, Dovi Frances, revealed that the group has searched for an advanced company to resolve issues bringing inefficiencies and pains to the card payment market. This remains one of the last strongholds of traditional financial services.
Aeropay has faced several complex compliance and technological issues, making it a prime contender to sieve this massive addressable market opportunity.
