News

Gr4vy raises USD 15 mln in Series A extension

Monday 17 January 2022 11:18 CET | News

US-based payment orchestration platform Gr4vy has raised a USD 15 million extension of Series A round, led by March Capital, taking the total Series A funding to USD 27.2 million.

Retailers often build their own ‘orchestration’ platforms for payment processing and routing, but these can be complex to maintain, therefore new startup Gr4vy launched in the US to do this in a more fleet-of-foot manner, the company claimed. Gr4vy’s cloud-native payment orchestration platform (POP) also offers instances, which provide merchants with infrastructure in the cloud. It now has partnerships with GoCardless, Banked, and Akoova.

Gr4vy representatives stated that the pandemic has made things difficult but has also been an opportunity because everything went online and a lot of companies and retailers’ systems weren't prepared or fit for purpose. They went from processing 5% of their transactions online, and everything else in-store, to suddenly 100% online, they added.

McKinsey projects announced that by 2025 global payments revenue will reach roughly USD 2.5 trillion and by 2024 ecommerce retail sales are expected to account for 21.8% of all retail sales worldwide.



More: Link


Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours.

Subscribe now

Keywords: funding, cloud services, ecommerce, startup, payments infrastructure
Categories: Payments & Commerce
Companies:
Countries: United States
This article is part of category

Payments & Commerce