CardX, 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.