Paymerang delivers an end-to-end electronic payments solution that lets clients pay all vendors with a single payment file, handling vendor enrollment, payment processing, reconciliation and customer service. The company serves sectors including education, healthcare, media and manufacturing. It processes over $1.5 billion in payments annually to a network of more than 60,000 suppliers. Paymerang was founded in 2010 and is led by CEO Nasser Chanda; Steve Winston is a founder. The company plans to grow in the Procure-to-Pay space with new jobs, products, sales channels and operational infrastructure. Management intends to expand operations in the Richmond metro area and add over 100 jobs over the next five years. The Payments Company is a Richmond, Virginia-based provider of cloud software and a vendor network that enables businesses to pay vendors electronically. Led by founder and CEO Steve Winston, the company offers B2B payment solutions for small and mid-sized companies, including software integration, vendor enrollment, payment processing and reconcilement. It combines a cloud platform with a vendor network to streamline electronic payments and reconciliation. The company recently received an investment from Union First Market Bankshares Corporation; the amount of the transaction was not disclosed. In conjunction with the funds, Union will hold one seat on The Payments Company's board of directors. The company intends to use the funds to expand its national presence.

Total raised

$26M

Funding rounds

2

Latest round

Equity

Latest activity

Mar 2018