Swirepay $5 Million Seed Funding Round Successfully Completed
SANTA CLARA, Calif., Feb. 25, 2025 /PRNewswire-PRWeb/ -- Today, Swirepay announced the successful closing of its second round of seed funding of $3.4M bringing the total amount raised to $5M. Following its Seed One round of funding which was led by ICICI Bank and Advantage Partners, this second round of funding was led by The Indus Entrepreneurs (TiE) Angels groups based in Silicon Valley, Boston, and Southern California, with additional participation from Aum Ventures, QPaymentZ, Nivesha Ventures, Nurture Growth Fund, and prominent angel investors.
Swirepay's AI-powered platform seamlessly integrates and orchestrates the various payment systems with bank accounts and enterprise resource planning (ERP) systems, offering a comprehensive solution for enterprises, small businesses, and government organizations in the U.S. and India. Backed by India's leading private bank, ICICI Bank, and as a partner with banks in the US, Swirepay is democratizing instant payments for businesses, ensuring secure transactions and automated reconciliation through AI-driven accounts receivable and accounts payable capabilities, bringing together a fractured ecosystem into a single platform.
"Business-to-business, business-to-individual, and consumer-to-business payments are undergoing a major transition with newer technologies," said Adithya Murali, Founder and CEO of Swirepay. "In this environment, there is a pressing need for an omni-channel solution that includes reconciliation as a service. We aim to be at the forefront of these solutions, supporting banks and financial institutions in their efforts to modernize banking and compete in the fast-changing financial ecosystem."
This latest funding round will be used to scale up sales and marketing efforts, onboard more enterprise customers and small businesses in the U.S., and expand operations across North America and Asia, primarily India. Swirepay also aims to enhance its AI-driven reconciliation platform, further integrating with more banks and financial institutions to optimize operations for customers. This investment will drive the adoption of next-generation instant payment methods, which the U.S. has historically been slower to adopt, including FedNow (U.S. Federal Reserve), RTP (The Clearing House), and Zelle, for B2B and C2B transactions, while allowing customers the ability to work with payment systems they are already familiar with including Paypal and Venmo.
"TiE Angels is a network of seasoned entrepreneurs and executives who are at the forefront of technology innovation," said Dr. Anand Jagannathan, Co-chair of TiE Silicon Valley Angels. "We leverage the combined expertise of our Angels across high-tech centers to identify innovation-leading companies that have significant customer traction. Adithya and his team have done a great job of delivering a solution that is at the forefront of payment technology."
Swirepay's services streamline complex payment orchestration processes and ensure financial accuracy. Its automated reconciliation and end-to-end payment solution eliminates manual errors, enhances compliance, and accelerates transaction processing and bill pay, helping businesses improve cash flow management and ultimately, customer satisfaction.
"Our alliance with Swirepay is transforming real estate operations by streamlining vendor management and expediting payments," said Steve P. Daigle, Sr., Founder of BM4 and Punctual Abstract. "By integrating Swirepay, title agencies, underwriters, and other industry professionals can pay vendors instantly, incentivizing faster, higher-priority service. Combined with our AI-driven tools, this partnership ensures greater efficiency, accuracy, and service excellence across the real estate industry."
With strong revenue traction and growth in all market segments, Swirepay's focus for the next year will be to continue building financial partnerships and strengthen its channel relationships. By driving innovation and expanding its market reach, Swirepay is set to revolutionize the way businesses transact and reconcile across the globe.
About Swirepay:
Swirepay is an all-in-one payment orchestration and reconciliation solution designed for enterprises, government agencies, and small businesses. The platform enables seamless point-of-sale and online payments, as well as transfers via dashboard or application program interfaces, supporting various methods, including card payments, ACH, wire transfers, and instant payment options like Zelle, RTP, and FedNow. Integrated directly with bank accounts and ERP systems, Swirepay streamlines reconciliation, simplifying financial tracking and reporting within a single, adaptable platform. For more information, visit their website: https://www.swirepay.com/.
Media Contact
Ayan Gowrishankar, Swirepay, 1 925 302 5790, [email protected], https://www.swirepay.com/
SOURCE Swirepay
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