Wethersfield mobile payments software maker Payveris LLC said it has received $5.2 million in venture funding that will allow the company expand its sales and marketing efforts and support its growing distribution network.
The funding round was led by Ironwood Capital Connecticut and Connecticut Innovations, the state’s quasi-public venture capital arm. Other investors include Sorenson Capital Managing Director David Dame and Avid Technology CEO Louis Hernandez.
Payveris provides its cloud-based ePayment platform to community banks, credit unions and prepaid-card issuers.
“Payveris’ robust product offerings place the company at the forefront of a constantly evolving industry that supports mobile and Internet banking and provides a solution for community banks, credit union and their customers that is equal to or better than that offered by much bigger banks,” Victor Budnick, managing partner with Ironwood, said in a statement.
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