Omnichannel Fee Platform Qolo Closes $15M Sequence A

Fintech omnichannel funds platform Qolo has closed a $15 million Sequence A spherical led by The Raptor Group. Extra skilled buyers and strategic companions additionally participated. The funds are earmarked for staffing, worldwide enlargement and product improvement.

 “We skilled robust investor curiosity fueled by our distinctive worth proposition and speedy tempo of buyer acquisition. The present fintech local weather is driving huge progress, and Qolo’s 100 per cent cloud-native, omnichannel providing is completely positioned to satisfy the demand,” mentioned Patricia Montesi, Qolo CEO. “And we’ve but to see a funds mannequin we are able to’t energy.”

Previously 12 months, Qolo has tripled its employees, together with C-Suite hires Chief Monetary Officer, J. Peter Bardwick (CFO) , Betty Mitchell (chief shopper officer), and Dhruv Singh (EVP of Strategic Enterprise Improvement). In July Qolo started rolling out the beta model of its Qolo Accelerator program, an engagement mannequin permitting purchasers to rapidly get to market, whereas sustaining product flexibility, program management and enhanced economics afterward.

“We’ve all the time been targeted on investing in firms to assist them understand their imaginative and prescient sooner, and we’re thrilled to help the unbelievable progress and incredible management group at Qolo,” mentioned Jim Pallotta, managing associate and founding father of The Raptor Group. “The Qolo group has constructed a novel platform which future-proofs fintechs. Raptor is closely targeted on the sector and has seen how Qolo can help our different portfolio firms. We acknowledge how distinctive Qolo is and are excited to be partnering with them.”

Qolo’s processing system is 100 per cent primarily based within the cloud. That features its host safety module, a transfer which cuts {hardware} prices and shaves transaction instances.

The cloud nativity advantages these looking for to license and management their very own platform by taking in some instances solely hours to duplicate the platform for purchasers, the corporate mentioned. In addition they have the worldwide infrastructure in place to accommodate regional regulatory requirements.