The company intends to use the funds to accelerate development and enhance the reach of its real-time payment network.
Founded in 2004 by a pioneer of the E-Payment/E-Presentment industry, Dushyant Sharma, Paymentus provides a unified, SaaS multi-channel bill payment and revenue reconciliation platform designed to simplify, automate and streamline bill payment processes.
It currently serves nearly 400 customers including utilities, local and municipal Government, counties, banks, insurance, healthcare, telecom and financial institutions across North America.
In conjunction with this investment, Gary Trainor, will join Paymentus as its Executive Chairman. Dushyant Sharma will continue to lead the business in his current role of President and CEO and will remain a significant investor in the business.
Paymentus has North America-wide operations with office locations in Atlanta, Georgia and Richmond Hill, Ontario.