PeerTransfer, a Boston, MA-based provider of global payment solutions for the education industry, closed a $6.4m funding.
Backers included QED Investors, led by Nigel Morris, co-founder of Capital One Financial Services, and FIDES and KIBO Ventures, both in Madrid, Spain, as well as existing investors Spark Capital and Maveron.
The company intends to use the capital for global expansion and new product development.
Led by Iker Marcaide, Founder and CEO, peerTransfer develops global payment solutions for the education industry enabling international students to pay tuition and fees using their home currency and schools from all over the world to receive international payments realizing a streamlined reconciliation process combined with a customized international payment and support experience for their clients.
The company, which has additional offices in Europe, currently works with over 350 universities, colleges, and K-12 schools across North America, Europe, and Australia.
To date, peerTransfer has processed payments from over 190 countries.
Luis Manuel Rivera Novo, the General Manager of FJME (which is the foundation that represents FIDES) recently joined the company’s Board of Directors.