Payzer, a mobile and cloud-based financial technology platform has raised $4.2 million in Series A funding. The Investment was led by Grotech Ventures and Route 66. Grotech Ventures have earlier invested in Passport, a cloud-based parking and transit solution provider. Along with the funding, Grotech Ventures’ general partner Don Rainey and Route 66 Vice President Ben Britt have joined Payzer’s board.
Payzer intends to use the funds to increase its sales and marketing and to expand its product development team. It is currently hiring business development representatives and LAMP stack developers as part of its expansion plan.
Located in South Charlotte, North Carolina, Payzer was earlier called Just Push Pay. It was started to provide an all-in-one financial tool to help the contractors to grow their businesses by enabling mobile payments, instant loans via mobile devices, easy management of recurring payments and simplified customer management.
Payzer provides cloud-based payment solutions for businesses and non-businesses and an all-in-one financial toolbox for mobile payment acceptance. Payzer's mobile and cloud-based platform allows customers to accept credit cards, debit cards and electronic checks with real-time tracking across their organizations, provide instant financing up to $55,000 using a mobile phone, tablet or PC, and control purchases by giving employees Visa debit cards rather than a company credit card.
Payzer’s service for businesses include:
- Credit and debit card payment acceptance
- Provision of credit to customers
- Making payments to vendors and suppliers
- Debit-purchasing cards and electronic invoices
Payzer provides a one-stop financial toolbox delivering mission-critical software and applications to specialty trade contractors. Applications include mobile payment acceptance, recurring payments, debit-purchasing cards, front-end operating software, back-office application integration and instant consumer loans to grow sales.
Payzer also provides service to non-business customers. Payzer's service allows customers to make mobile payments with their existing debit or credit cards by entering the e-mail address and payment amount. They can also track transactions online and apply for credit instantly. A free web and mobile app are available for added versatility.