Participated · Series A · Apr 2021

Mercato is a platform-as-a-service that helps smaller grocers and specialty food stores go online quickly, offering an e-commerce storefront, white-label options, and a centralized product catalog of over one million items. Its solution includes a data analytics platform, integrations with more than 30 POS systems, and machine-learning-driven stock inference that maps roughly 95% of a store's products in minutes. Merchants can maintain the customer relationship by handling orders themselves while Mercato contracts with national and regional couriers for delivery. The company generates revenue from a consumer membership program (plans range from $96/year to $228/year) and from merchants via a single-digit percentage transaction fee. Mercato scaled to more than 1,000 merchants across 45 U.S. states, reported more than 1 million customers, and grew merchant sales 1,300% in 2020. Future plans include adding a supply platform, expanding its data analytics and consumer subscription benefits, and growing its remotely distributed team (now about 80 employees). Mercato builds an e-commerce platform that lets independent grocers offer online ordering, deliver within a 15-mile radius, and communicate directly with customers. The platform also provides merchants with analytics on products and pricing. Mercato reports a network of 750 independent grocers and plans to add more with the recent funding. The company intends to use the capital to expand into new markets, build out its sales and marketing team, and further develop its analytics. Founder and CEO Bobby Brannigan started Mercato in 2015 and relocated the company to downtown San Diego earlier this year, operating from coworking space Downtown Works. Brannigan previously founded ValoreBooks, which grew to $85 million in revenue before being sold to SimpleTuition. Mercato operates a mobile-focused e-commerce and marketing platform that enables independent and specialty grocers to sell locally sourced food to consumers. The platform offers marketing, e-commerce, and service tools for local butchers, seafood and produce markets, bakers, and small grocers to connect seamlessly with consumers. Since launching in 2015, Mercato has built networks of local retailers across seven U.S. markets and is operating in New York (Brooklyn, Manhattan & Queens), Chicago, San Francisco, Alameda, Washington, D.C., and Princeton, NJ. The company has been rapidly adding merchants—22 specialty and small grocery stores in April and 35 in the first week of June—and retailers report hundreds of transactions per week. A recent capital infusion from Michael Loeb’s private investment platform will be used to increase marketing and sales efforts and to expand Mercato’s roster of team members during this period of significant growth. Founder and CEO Bobby Brannigan created Mercato drawing on his experience in his family’s butcher shop and grocery store to bring independent grocers into the future. Mercato is an online marketplace for specialty food stores that helps merchants sell online and offers local and national delivery. The company positions itself as the only online marketplace focused on specialty grocers. CEO Bobby Brannigan says the idea was inspired by his family’s Italian grocery in Brooklyn, which his family has operated for over 40 years. Mercato’s business model is commission-based, earning a fee on each sale paid by the store. The startup raised a $1M seed round via a convertible note from several angel investors. The team raised capital before the product launched and said the fundraising process involved meetings with many angel and VC investors, including Richard Branson. Near-term plans include proving the concept in Brooklyn, integrating 50 merchants in NYC over the next six months, and expanding to additional territories thereafter.

Participated · Series A · Nov 2020

Credit Key provides merchants with an embedded checkout solution that offers SMB purchasers instant access to net terms and flexible repayment plans, increasing conversion rates and average order values. Its platform integrates within existing B2B e-commerce sites and sales systems, removing friction from purchasing while giving buyers greater control over cash flow. The company positions itself as core infrastructure for the rapidly digitizing B2B commerce market, where demand for consumer-style payment flexibility is growing. On January 21, 2026 the firm announced $90 million in fresh growth capital, underscoring investor confidence in its model. Management plans to direct the funds toward accelerating product development, deepening partnerships with marketplaces and platform providers, and expanding its merchant footprint across the United States. The strategic relationship with Barings also provides additional resources and credibility as Credit Key scales. No operating metrics such as revenue or user counts were disclosed in the announcement.

Participated · Series A · Jul 2020

Butler provides a hospitality network with technology designed to foster community and connect travelers with the cities around them, optimizing traditional operating models beginning with Room Service. As an extension of its platform, the company continues to develop a portfolio of relevant dining concepts. Hospitality partners include Hilton, Hyatt, IHG, Marriott, and more. The company is led by founder and CEO Premtim Gjonbalic and is based in New York. Financially, the company raised $32M in this round, bringing total funding to north of $50M. Butler intends to use the funds to accelerate growth and expand operations, more than doubling its presence to 12 US markets and aiming to service nearly 250,000 rooms. Butler Hospitality operates ghost kitchens inside hotels, transforming hotel restaurants into delivery hubs that prepare Butler’s own curated menu and deliver directly to guests’ rooms in under thirty minutes. It partners directly with hotel operators and charges guests’ credit cards on file, using proprietary ordering and delivery-tracking technology and supporting bill-to-room payment. Founded in 2016 and launched out of the Entrepreneurs Roundtable Accelerator in 2017, Butler serves more than 30,000 keys in New York City and has grown rooms served over 100% year-over-year for three years. The company partners with brands including Museum of Ice Cream, &pizza, and Ess-a-Bagel, and during COVID-19 delivered over 175,000 meals to first responders and vulnerable populations. Butler plans to broaden service offerings and expand operations beyond New York City into Chicago, Miami, and Washington D.C., funded by the recent round. To date the company has raised $20.2M in funding.

Participated · Seed · Nov 2019

Popwallet provides a platform that enables brand marketers to deliver personalized and connected experiences to consumers via mobile wallets like Apple Wallet and Google Pay. Its offerings include dynamic coupons and offers, rebates, loyalty and gift cards, tickets and other lightweight branded content. Popcard templates allow brands to create mobile wallet cards and APIs integrate those card experiences into other parts of the consumer journey. The product suite includes Popdeal, Poployalty, Popgift, Popaccess and Popbrand to support deals, loyalty, gifts, access and storytelling. The company plans to use the new funding to increase sales and marketing efforts and to develop additional partnerships and platform integrations. Popwallet is led by CEO and Founder Elias Guerra with Founder and CTO Wes Biggs on the team.

Participated · Series A · Jan 2018

Finexio provides an Accounts Payable Payments-as-a-Service platform embedded within Procure-to-Pay suites that automates and digitizes payments and supplier management. Its AI-driven platform optimizes payment timing and cash flow, enables payment monetization, and offers fraud prevention, analytics, and reporting. The infrastructure supports payment methods including ACH, virtual credit cards, and checks and is presented as a fully managed solution for AP. Finexio positions AP as a strategic revenue generator rather than a cost center. The company is backed by investors including JP Morgan and Mendon Venture Partners. It plans to use financing to support growth and working capital needs. Finexio provides end-to-end AP payment capabilities embedded within Accounts Payable and Procure-to-Pay (AP2P) software platforms. The company is led by Founder and CEO Ernest Rolfson. Finexio raised $35M in a Series B at a $100M pre-money valuation. The financing was intended to fund expansion of operations and broaden the company’s business reach. The company operates from Orlando, Florida and focuses on enabling AP payments-as-a-service for software platforms. Finexio is an Orlando, Fla.-based Accounts Payable (AP) Payments-as-a-Service infrastructure company powering many of the world’s largest accounts payable and procurement software platforms. The company provides white-label payment solutions and is deploying at scale across leading global procurement and AP platforms in sectors including hospitality, healthcare, higher education, manufacturing, and construction. Finexio reports a user base of 150,000 customers, $200 billion in annual B2B AP spend, and over 3 million suppliers. Its founder and CEO is Ernest Rolfson. In May 2022 Finexio closed a $10M funding round backed by Patriot Financial Partners and new investor Mendon Venture Partners. Banc of California invested in August to deepen its portfolio of product offerings, and the two companies intend to roll out an AP B2B payments and working capital offering by the second quarter of 2022. Finexio offers AP payments as a service, integrating end-to-end AP payment capabilities within AP and procurement software platforms. Led by CEO Ernest Rolfson and based in Orlando, Fla., the company focuses on enabling electronic payments and improving accounts payable workflows. It serves a customer base of 400 customers representing $4 billion in annual AP spend, and its integrated AP and procurement installed base spans over 150,000 bank accounts generating over $25 billion in accounts payable spend, much of which is still processed via paper check. Finexio plans to use new funding to expand development efforts and product capabilities. In partnership with Medalist, the company is launching an integrated Supply Chain Finance (SCF) solution designed to meet the needs of middle-market companies and improve cash flow for SMBs. Finexio provides an API used by accounts payable platforms, ERP systems, and corporations to identify suppliers that can be paid electronically and route payments without requiring bank account information. Its patent-pending technology enables customers to pay suppliers securely and quickly, eliminating paper-based checks. The company was launched in early 2017 by CEO Ernest Rolfson and is based in Orlando, Fla. Finexio completed a $4M Series A financing, bringing total funding since launch to $5M. The company will use the funds to continue to expand its sales and marketing efforts. In conjunction with the financing, payments executive Henry Dreifus will join Finexio’s Board of Directors and Steve MacDonald will join as an observer.