SpotOn Transact, LLC, a San Francisco, CA-based payments and software company, received an initial investment of $20m.
The round was led by brothers and co-founders, Matt and Zach Hyman, who have 20 years of experience in the industry and most recently sold Central Payment to Total System Services.
Formed in 2017 by the Hyman brothers and Doron Friedman, SpotOn brings together payment processing and a software solution to give merchants data and tools to market effectively to their customers. The platform offers comprehensive tools for SMB’s including payments, marketing, reviews, analytics and loyalty.
The company also made several additions to its Management team and Board of Advisors including Kevin Bryla, CMO of National Funding, and former CMO of ADP and Carl English, founder and CTO of Dinerware.