The Payments Company, a Richmond, Virginia-based provider of cloud software and vendor network to enable businesses to pay vendors electronically, received an investment from Union First Market Bankshares Corporation.
The amount of the transaction was not disclosed. In conjunction with the funds, Union will hold one seat on The Payment Company’s board of directors.
The company intends to use the funds to expand its national presence.
Led by Steve Winston, founder and chief executive officer, The Payments Company provides business to business payment solutions for small and mid-sized companies that include software integration, vendor enrollment, payment processing, and reconcilement.