January 13, 2021
Gr4vy announces a $15m Series A extension funding to accelerate rapid growth
The cloud-native payments orchestration platform has secured a $15 million extension funding to accelerate its product roadmap and meet merchant demand, bringing its total Series A funding to $27.2 million
As e-commerce sales continue to grow and more companies are expanding internationally, payment orchestration has become even more important. McKinsey projects that by 2025, global payments revenue will reach roughly $2.5T, and by 2024, e-commerce retail sales are expected to account for 21.8% of all retail sales worldwide. Merchants looking to capture a share of the market need a payments orchestration platform (POP) that offers payment infrastructure and the ability to scale.
The $15 million in Series A extension funding, led by March Capital, a top-tier venture capital firm known for investing in companies poised for hyper-growth globally, with participation from Nyca Partners, Activant Capital and Plug and Play Ventures, will be used to accelerate its product roadmap and meet merchant demand.
“Worldwide growth in various payment methods and processors has led merchants to build increasingly complex payment infrastructure that’s highly inflexible when it comes to the fintech and payments market,” said John Lunn, founder and CEO of Gr4vy. “Payment orchestration shouldn’t be overly complicated. Our cloud-native POP delivers modern payment infrastructure and allows merchants to expand and manage payment methods, services and transactions in a no-code/low code fashion with just a few clicks. As we continue to supercharge merchants’ payment stacks and deliver new products and services, we’re honored to have the backing of such trusted names in venture capital, such as March Capital.”
“Digital payments methods today come in more forms than ever before, resulting in merchants feeling overwhelmed. There are BNPL providers, credit cards, account-to-account services, crypto and a wide array of local payment solutions – all of which differ by geography and require engineering teams to integrate,” said Solomon Hailu, Partner of March Capital. “March is excited to partner with John and the Gr4vy team as they help merchants simplify and manage payment infrastructure via a cloud-native, easy-to-use, orchestration platform at a time when e-commerce strategy is mission critical.”
The recent series brings Gr4vy’s total funding to $27.2M. Since its launch in April, the company has nearly doubled its valuation, reflecting its strong growth and its demonstrated value to merchants globally.
“It used to be easy for merchants to implement a payments infrastructure, but over the past 10 years it has become numbingly complex,” said Hans Morris of Nyca. “Companies really just want to sell their goods and services, accept whatever payment works best for the customer, and minimize their cost and risk. Sounds simple, right? But it’s a nightmare, and since the payments environment keeps changing at a dizzying speed, even big global merchants don’t have the engineering resources to devote to this. That’s why Gr4y is perfect for this moment. And the team John has built is widely respected for their payments expertise and credibility.”
Gr4vy redefines the payments industry and payment orchestration by empowering merchants to grow their payment services without months of coding and in just a few clicks, ensuring customers always have the payment solutions and options they need worldwide. Acting as a conduit between merchants’ shopping carts and payment providers, Gr4vy’s POP upgrades merchants’ payments stack and payment methods to make them more agile. For more information about the benefits of Gr4vy, check out the platform, or get in touch with our team.
Interested in joining the Gr4vy team? Check out our current vacancies.