Orum, a NYC-based platform for financial infrastructure, raised $21m in Series A funding.
The round was led by Bain Capital Ventures, with participation from previous investors Inspired Capital, Homebrew, Acrew, Primary, Clocktower, and Box Group, and new investors SVB Capital and American Express Ventures. Orum’s network of advisors and angel investors includes over 30 industry leaders like Michael Vaughan (former COO at Venmo), Bobby Mehta (former CEO TransUnion), Omri Dahan, (former Chief Revenue Officer, Marqeta), Justin Overdorff (former Stripe, Investments & Acquisitions), Marc Bhargava, (Strategy, Coinbase), Charley Ma (GM Fintech, Alloy), and Roli Saxena (former Chief Customer Officer, Brex).
The company intends to use the funds to accelerate the hiring of talent in data engineering, machine learning and data science, and to expand its partnership teams.
Led by Stephany Kirkpatrick, Founder and CEO, Orum provides embeddable financial-infrastructure products bringing smart, real-time and fully automated money-movement to enterprises across verticals. Movement, an API-based solution that allows for money-movement across multiple rails, while optimizing for speed, cost, and risk, builds upon the company’s debut product, Foresight, that uses exclusive intelligence to predict ACH return risk before it occurs.
Initial customers include large financial services companies, like First Horizon Bank, as well as next-generation fintechs, like One and Alloy.