Hypur

bankingtech

FOUNDING YEAR: 2014
LOCATION: United States
Last Update: 17/07/2020

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About

Hypur provides banking and payment technology that empowers commerce in highly-regulated and cash-intensive industries.We help financial institutions serve their communities by enabling them to compliantly and profitably provide financial services to under served markets like money service businesses and cannabis businesses. Our bank compliance tools bridge the gaps between traditional banking systems and the unique regulatory demands of highly-regulated and cash-intensive businesses.Hypur is the leading provider of cannabis banking technology in the U.S. and is changing the way financial institutions bank money service businesses.

MEDICI Analysis

Hypur is a bank compliance platform enabling financial institutions to leverage technology to intelligently manage risk and confidently serve their customers.The company enables commerce for banks, cash-intensive businesses and their customers. Hypur is currently being used by multiple financial institutions in the Southwest, enabling them to efficiently and confidently bank cash-intensive businesses with the company’s solution.

Focus

PRODUCTS & SERVICES

Hypur provides financial institutions with the technology they need to provide banking services to cash-intensive businesses. Hypur's solutions include: Hypur Commerce, Hypur Diligence, Hypur Comply, Hypur ID, and Hypur Sight. Its products are specifically designed to address regulatory challenges presented by cash-intensive businesses, provide transparency and accountability for financial institutions and regulators.

MAIN CLIENTS

Financial institutions

PRIMARY PROBLEM SOLVED

Hypur’s integrated suite of products bridge the gap left by core AML/BSA systems, automating manual processes and providing data transparency that enables Hypur’s technology solutions address the host of issues that core BSA/AML systems aren’t equipped to handle. The company's solution enables financial institutions to bank cash-intensive businesses securely and profitably. Hypur makes it possible to protect against financial crime in highly regulated markets, thereby diminishing the need for categorical de-risking of entire industries.

COMMENT

Product that access cash intensive business with safety and convenience for businesses and their customers

Traction

VALUATION / MARKET CAP:

$14.5 M in 2015

People

FOUNDERS

Michael Sinnwell

David Querciagrossa

Christopher Galvin

NUMBER OF EMPLOYEES

11-50

Momentum

FUNDED

NO

TOTAL FUNDING

$1.5 M

DATE OF LAST FUNDING

May 2016

TOTAL FUNDING COMMENT

Total amount received in venture funding round

LISTED

NO

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