Orum, a New York-based provider of financial infrastructure products, raised $56M in Series B funding.
The round, which brought total funding raised to over $82M, was led by Accel and Canapi Ventures with participation from previous investors Bain Capital Ventures, Inspired Capital, Homebrew, Acrew, Primary, Clocktower, and BoxGroup. In conjunction with the funding, Accel Partner Sameer Gandhi joined the board.
The company intends to use the funds to invest in tech infrastructure.
Led by Stephany Kirkpatrick, Founder and CEO, Orum builds embeddable financial infrastructure products that enable 24/7/365 money movement. The company serves a range of enterprise partners—including First Horizon Bank, One, Alloy, HM Bradley, and Zero Financial, recently acquired by Avant—with a suite of machine learning-backed APIs:
- Foresight, which uses exclusive intelligence for predictive funds availability, and
- Momentum intelligently, which routes funds across payment rails to optimize for speed, cost, and risk, powered by banking providers that include JPMorgan Chase and Silicon Valley Bank.
Orum’s most recent leadership addition is former Facebook executive, Gaurav Tandon, as SVP of Data, Machine Learning and Data Science.
FinSMEs
29/06/2021