Payzer, a Charlotte, N.C.-based mobile and cloud based financial technology platform, raised $4.2m in Series A financing.
The round was led by Grotech Ventures and Route 66 Ventures. In conjunction with the funding, Grotech Ventures’ General Partner Don Rainey and Route 66 Vice President Ben Britt joined Payzer’s board along with Charlotte technology investor Mark McDowell of Acta Wireless.
The company intends to use the funds to investment accelerate sales and marketing growth and to expand its product development team. It is currently hiring both inside business development representatives and LAMP stack developers.
Led by Joe Giordano, CEO and Founder, Payzer provides a financial tool for contractors to grow their business. Its mobile and cloud based platform allows customers to accept credit cards, debit cards, and electronic checks in the field or at the home office with real-time tracking across their organization, provide instant financing up to $55k using a mobile phone, tablet, or PC and control purchases by giving employees Visa Debit Purchasing Cards rather than a company credit card.