PayNearMe, a California-based fintech specializing in streamlining payments for non-commerce businesses, has completed a $50 million Series E funding round led by Atlantic Vantage Point (AVP) through its Growth Fund I. This fresh capital will help speed up PayNearMe’s entry into other markets as the company leverages its technology to continue transforming the customer payment journey.
A Smooth Payment Journey Remains Critical for All Businesses
PayNearMe has built its reputation on a simple, yet ambitious idea: payments should not be considered merely a back-office necessity to carry out administrative work but become an engine for growth and customer satisfaction. PayNearMe’s single integration platform is the preferred payment solution for thousands of companies in consumer lending, iGaming, online sports betting, property management, and tolling.
Elizabeth de Saint-Aignan, general partner and head of growth fund, North America at AVP, lauded PayNearMe’s blend of vision and execution. She noted that the company’s innovative mindset was instrumental in its efforts to deliver a modern payment experience, solving long-lasting challenges that have plagued the sector and hampered efficiency.
“PayNearMe’s vision and proven execution are changing how non-commerce businesses approach payments, and we’re excited to support them in this next stage of growth.”
Elizabeth de Saint-Aignan, AVP general partner and head of growth fund, North America
At the core of PayNearMe’s strategy is the Payment Experience Management model, a fusion of software and money-movement services that streamlines how businesses collect and process payments. By reducing the total cost of acceptance and enhancing transaction cycles, PayNearMe aims to bolster clients’ cash flow while mitigating friction for customers.
PayNearMe Remains Committed to Innovation
Danny Shader, CEO of PayNearMe, challenged the assumption that payments were merely a cost for doing business. He noted that a cohesive payment strategy could help companies differentiate themselves from the competition, drive customer satisfaction, and improve financial results. Shader hoped that PayNearMe’s reach would continue to expand, providing customers worldwide with first-class solutions.
“AVP’s funding will allow us to deliver the benefits of Payment Experience Management to more clients and in new markets.”
Danny Shader, PayNearMe CEO
PayNearMe has rebranded its core platform as PayXM™, aligning with its expansion efforts. The company noted that this system was the first of its kind in the industry, tailored to improve the entire payment experience from start to finish. The platform supports every high-profile payment type and empowers businesses to process transactions from multiple customer-facing channels with just one integration.
The new funding builds on a year of momentum for PayNearMe. In 2024, the company entered into a strategic partnership with Mohegan Digital to strengthen payment solutions for iGaming operations in Pennsylvania. The Series E rounds signal that investors have faith in PayNearMe’s payment technology as a central pillar of customer engagement strategies.