GrailPay, a risk and data platform for bank payments, has secured $6.7 million in funding to enhance its suite of tools aimed at making ACH transactions safer and faster.
The GrailPay platform provides predictive analytics and real-time signals for account enrollment, transaction monitoring, and merchant underwriting. Based in New York, the company supports over 10,000 businesses in safeguarding bank payments against fraud and operational failures, facilitating quicker transactions.
“Credit cards have seen decades of innovation—fraud tooling, risk engines, analytics,” says Will Messina, CEO and co-founder of GrailPay. “However, the same advancement hasn’t occurred for bank payments. We’re creating a modern intelligence layer to unlock the next growth wave in payments linked to bank accounts.”
Messina also noted that the company intends to use the funding to expand its product and engineering teams, enhance go-to-market strategies, and develop new capabilities for its risk models.