Rocky Hill-based Payveris has received $7.5 million in funding from new and existing investors in a round led by San Francisco-based Mosaik Partners.
Payveris, which provides digital payment products for banks and credit unions, said additional investors participating in the round include a group of individual financial technology investors represented by Nick Cayer (who has invested in 14 financial technology companies over the last decade) as well as existing institutional investors Connecticut Innovations; Hartford-based Advantage Capital; and Miami-based Black Dragon Capital.
Mosaik Partners co-founder Howard Mergelkamp and Cayer will also be joining Payveris’ board of directors.
The funds will enable Payveris to continue its growth and development of a new payment platform features in the coming year. Payveris has added more than 100 financial institutions as customers in the past two quarters and has expanded its team by 40 percent. Payveris currently has 180 bank and credit union customers and 21 Fintech partners.