Fattmerchant, an Orlando, FL-based merchant services provider that provides unlimited credit card processing at direct cost, closed a $1.4m funding round.
Backers included Wet Paint Ventures, Florida Angel Nexus, venVelo and other accredited investors from Central Florida and new strategic investor Phil Rawlins, Founder and President of Orlando City Soccer Club.
The company, which has now raised $2.25m in total funding, will use the funding for continued product and technological developments, as well as marketing and customer acquisition.
Led by Suneera Madhani, founder and CEO, Fattmerchant provides a merchant service offering unlimited payment processing at direct cost for a flat monthly membership and no contract. The company, which currently has 25 employees, has plans to build a new suite of technology tools for customers, featuring an advanced mobile platform.