Municipal Finance & Services Corp. (MFSC) operates AMP, a cloud-based digital payments platform coupled with a proprietary government obligation funding solution offered at zero cost to local governments. The platform is designed to accelerate payments to vendors while allowing local governments to retain cash longer, with the stated goal of expanding participation from minority-, women-, veteran-/disabled-veteran-owned, and other underserved/emerging businesses. MFSC says AMP can help vendors get paid faster, strengthen municipal D&B Paydex ratings, lower processing and reporting costs, and enable reinvestment into local communities. Founded in 2017 and based in Woodbridge, N.J., the company targets the $1.69T U.S. municipal payments market and cites a $50B total available market for AMP. The article notes roughly 22.6K municipalities making core consumable expenditures and average vendor payment cycles of over 75 days, which MFSC aims to address. MFSC has announced strategic private-market partners including Bank of America, AvidXchange, and Apex Solutions Group, and distribution/market-access partnerships with NACo, the U.S. Conference of Mayors, the N.J. African American Chamber of Commerce, and the U.S. Hispanic Chamber of Commerce.

Total raised

$5M

Funding rounds

1

Latest round

Equity

Latest activity

Nov 2021