PayNearMe, a fintech company focused on non-commerce businesses and their customers, has raised $50 million in Series E funding from Atlantic Vantage Point.
Originally designed to enable online purchases with cash payments in physical stores, PayNearMe has expanded its platform to support various options, including PayPal, Venmo, Cash App Pay, Apple Pay, Google Pay, credit cards, and ACH transfers.
The service is utilized by thousands of companies across sectors such as consumer lending, iGaming, online sports betting, property management, and toll collection.
PayNearMe combines software with money movement services to optimize every step of the payment process, enhancing customer interactions and operational efficiency while lowering overall acceptance costs.
Danny Shader, CEO of PayNearMe, stated, “We view improving payments as a significant opportunity for businesses to differentiate themselves, enhance customer satisfaction, and achieve better results. AVP’s funding will enable us to bring the advantages of Payment Experience Management to more clients and explore new markets.”