ModoPayments is a Dallas, TX-based payments technology startup that operates a payment services marketplace connecting users and providers through a single connection. Founded by Bruce Parker with industry colleagues, the platform enables connections without requiring changes to existing systems and ensures good-funds throughout the transaction lifecycle. This reduces back-office burden for clients. The company is powering payments connections for Bank of America, Mastercard, FIS, Verifone, Etihad Airways, and Klarna among others. Modo intends to use the funds raised to grow the team and expand its offerings. The Series A brought total capital raised to date to over $16M. ModoPayments pivoted from an earlier focus on mobile payments for merchant location check-ins to a backend integration product called the Digital Payments Hub, launched last fall. The Hub is described as a Swiss Army Knife for moving value across multiple financial systems, handling money as well as loyalty points and coupons. It uses a proprietary, secure data container called a COIN™ to move value/data along its network. Founder and CEO Bruce Parker framed the company as focused on integrating existing payments systems into the digital ecosystem and described the team as "extraordinary payments plumbers." The company is headquartered in Richardson, TX. The article notes the company recently completed a funding round, indicating some current financing activity.

Total raised

$15M

Funding rounds

2

Latest round

Series A

Latest activity

Nov 2018