CardX Raises $2M in Growth Funding

cardXCardX, a Chicago, IL-based payment technology company, secured $2m in growth financing.

Pace Financial Group made the investment, which brought total capital raised to date to $8.62m.

The company intends to use the funds to advance the development of its digital products and accelerate hiring within the recently-expanded Chicago headquarters.

Founded in 2013 by CEO Jonathan Razi and COO Michael Tomko, both graduates of Harvard Law School, CardX provides technology-enabled compliance solutions for credit card surcharging.
The solution is powered by patent-pending technology that—for payments in person, in office, and online—determines card type and cost of acceptance in less than a second.
The company provides technology-enabled compliance to partners that include ISOs, ISVs, processors, and the merchants they serve.



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