Gr4vy Secures $15 Million Series A Extension Funding to Accelerate Rapid Growth
Gr4vy, the leading company for cloud-native payments orchestration, today announced the closing of $15M 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. 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. The additional revenue will further accelerate Gr4vy’s worldwide expansion to meet heightened market demand and support its product roadmap for its cloud-native payment orchestration platform (POP).
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 POP that offers payment infrastructure and the ability to scale.
“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 ecommerce strategy is mission critical.”
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. 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. Centralized reporting, monitoring and management mean all parts of a merchant’s business benefit from a single streamlined system all in one place.
Gr4vy offers Instances, which provides merchants individualized infrastructure in the Cloud, delivering the highest level of flexibility to manage payment stacks and scale. Gr4vy can spin up these individualized cloud Instances from the most simple to the most complex requirements. Merchants can deploy across the globe and even on the Edge to ensure their customers always have the payment solutions and options they need worldwide.
“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.”
After receiving $11.1M Series A funding, Gr4vy has continued in high-growth mode. Notable partnerships with GoCardless, Banked, Akoova, as well as the launch of its Gr4vy Magento extension and successful completion of its PCI1 certified vault, have empowered merchants to meet current and future payment market demands and take on payment challenges. Gr4vy continues to draw industry leaders to its team of fintech and payment experts, including former Google alumnus Zubin Vandervala as VP and Head of Business and Partner Development, along with other key hires from companies such as Ayden, Braintree, PayPal, and more.
For more information, please visit https://gr4vy.com/.