Payzer, a Charlotte, N.C.-based financial tool for specialty trade contractors, closed a $4.25m Series B round of equity funding.
The round was led by Route 66 Ventures, Grotech Ventures, and IDEA Fund Partners.
The company intends to use the proceeds to launch new products in HVAC, plumbing, electrical, solar, and other specialty trade markets.
Led by Joe Giordano, Co-Founder and Chief Executive Officer, Payzer provides mobile and cloud-based financial tool for contractors to accept and manage payments and customer profiles as well as offer instant loans—all via their mobile devices.
It allows users to accept credit cards, debit cards, and electronic checks in the field or at the home office with real-time tracking across their organization, enables instant financing up to $55,000 using a mobile phone, tablet, or PC and control over purchases by giving employees Visa Debit Purchasing Cards rather than a company credit card.