Neural Payments, a Montgomery, OH-based fintech and peer-to-peer payments provider, announced that it raised $8 million in Series A funding.
The round was led by New York-based investment adviser Mendon Venture Partners and joined by CURQL Collective, a fintech-focused strategic investment capital firm based in Des Moines, Iowa.
The funds will allow the company to further invest in sales, marketing, and engineering efforts and increase hiring to keep up with demand and accelerate growth.
Mick Oppy, co-founder and CEO of Neural Payments, said.“This funding not only allows us to accelerate our go-to-market strategy and bring our engineering plans to scale, but it provides an opportunity to connect with the right strategic partners,” Oppy told me. “These two groups represent banks and credit unions respectively, giving us a complete view of the financial institution landscape in the United States.”
Company: Neural Payments, Inc.
Raised: $8.0M
Round: Series A
Funding Month: October 2022
Lead Investors: Mendon Venture Partners
Additional Investors: CURQL Collective
Company Website: https://neuralpayments.com/
Software Category: Peer-to-Peer Payments Solution
About the Company: Neural Payments was created to assist Financial Institutions in adopting change at or ahead of the market pace. Leveraging experience working at banks and payment processors globally, Neural Payments will make a difference in connecting institutions to the latest technologies and trends. The Neural Payments functionality offers the ability to easily send funds inside and outside the Neural Payments ecosystem via existing integrations with Paypal, Venmo, and Visa/MasterCard. It facilitates online payments via credit/debit cards, bank transfers, or wallets for merchants & businesses. Its products and services help build digital adoption, lower transaction costs, limit exposure to fraud and simplify technology integrations to navigate these challenges successfully.
Source: Neural Payments-LinkedIn