peerTransfer, a Boston, MA-based provider of global payment solutions to colleges and universities, has closed a $7.5m Series A financing.
The company intends to use the funding to increase headcount and infrastructure across functional areas as it is working to expand the number of colleges and universities it serves to to streamline their international payment processing.
Completely free of charge, peerTransfer requires no IT implementation, and supports students across all countries. The company currently works with over 30 institutions including Auburn University, Georgia State University, Miami University, Reed College, Suffolk University, University of Cincinnati, Wellesley College and Western Kentucky University.
Founded in 2009 by CEO Iker Marcaide, peerTransfer also has additional offices in Europe.