About PayFi
PayFi is a company based in Fort Lauderdale (United States) founded in 2016 was acquired by OV Loop in January 2021. PayFi has raised $3.01 million across 3 funding rounds from investors including OV Loop. PayFi has completed 1 acquisition, including PRMPayments. PayFi operates in a competitive market with competitors including Stripe, PayPal, Flutterwave, Square and Wright Express, among others.
- Total Equity Funding$3.01M (USD)
in 3 rounds
- Latest Funding Round$1.81M (USD), Seed
Dec 2018
- Investors
- Investments & Acquisitions
- Acquired byOV Loop
(Jan 2021)
Funding Insights of PayFi
PayFi has successfully raised a total of $3.01M across 3 strategic funding rounds. The most recent funding activity was a Seed round of $1.81 million completed in December 2018. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding $3.01M
- Total Rounds 3
- Last Round Seed — $1.81M
- First Round $700,000
(Sep 2016)
All 3 funding rounds of PayFi with amounts and investors; the two latest post-money valuations are shown, the rest are part of the premium plan.
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Dec 2018 | $1.81M | Seed | – | – | – |
| Aug 2017 | $500,000 | Seed | – | – | – |
| Sep 2016 | $700,000 | Seed | – | – | – |
1 investors in total: 1 institutional.
Investors in PayFi
PayFi has secured backing from 1 investor. Prominent investors backing the company include OV Loop.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
Application offering payment fraud solutions | 2017 | ovloop.com | Woburn, United States |
Investor details for PayFi
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Investments & Acquisitions by PayFi
PayFi has strategically engaged in corporate development activities, having acquired 1 company. Notable acquisitions include PRMPayments.
| Company Name | Description | Domain | Location | Founded | Acquired | Amount |
|---|---|---|---|---|---|---|
Payment relationship management and banking services are provided by PRMPayments. | prmpayments.com | Boston, United States | 2018 | May 2019 | •••• |
Complete acquisition details for PayFi
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Timeline of PayFi
5 dated milestones of PayFi across 5 years, from founding to its latest funding, stage changes and deals.
- Founded PayFi is founded.
- Funding First funding round of $700K.
- Funding Latest funding round, Seed, of $1.8M.
- Acquisition Acquires PRMPayments.
- Exit Acquired by OV Loop.
Competitors of PayFi
PayFi operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Stripe, PayPal, Flutterwave, Square and Wright Express, among others.
| Company Name | Domain | Founded | HQ Location | Total funding | Employees | Description |
|---|---|---|---|---|---|---|
| stripe.com | 2009 | San Francisco, United States | $9.81B | 5,904 | Payment processing and card issuance solutions are provided for businesses. | |
| paypal.com | 1998 | San Jose, United States | $216M | 27,200 | Online payment solutions are offered to consumers and businesses. | |
| flutterwave.com | 2016 | San Francisco, United States | $319.41M | – | Provider of payment processing solutions for businesses | |
| squareup.com | 2009 | San Francisco, United States | $519.75M | 11,372 | POS solutions are provided for retail businesses. | |
| wexinc.com | 1983 | Portland, United States | – | 6,123 | Employee benefit administration and payment solutions are provided for enterprises. | |
| payu.com | 2002 | Amsterdam, Netherlands | $35.15M | 1,200 | Online payment processing and credit solutions are provided for businesses. | |
| nuvei.com | 2003 | Montreal, Canada | $321.71M | – | Payment processing solutions are delivered to merchants and businesses. | |
| moderntreasury.com | 2018 | San Francisco, United States | $183.15M | 77 | Payment processing and treasury management solutions are offered to businesses. | |
| jackhenry.com | 1976 | Monett, United States | – | 7,120 | Banking and payments solutions are provided through a dedicated platform. |
Detailed competitors of PayFi
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- Full competitor set
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Verified entity values are shown only after access is granted.
Latest news on Payfi
Complete news archive for PayFi
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- Brand-specific news history
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Similar companies to PayFi
10 companies that operate in the same segment as PayFi (Payments & Remittance Platforms), ranked by their profile score on The Company Check.
| Company | Description | Founded | Location | Total funding | Revenue | Employees |
|---|---|---|---|---|---|---|
Digital payments, financial services, and e-commerce platforms are provided. | 2000 | Noida, Uttar Pradesh, India | USD 4.14 B | – | – | |
Payment, financial, investment, and lending services are provided digitally. | 2012 | Bengaluru, Karnataka, India | USD 1.71 B | – | – | |
Payment processing and card issuance solutions are provided for businesses. | 2009 | San Francisco, California, United States | USD 9.81 B | – | – | |
Cloud-based accounts payable and receivable software for businesses | 2006 | Palo Alto, California, United States | USD 325.6 M | USD 1.65 B | 2,360 | |
Payment and business banking solutions are provided for enterprises. | 2014 | Bengaluru, Karnataka, India | USD 742 M | USD 302.19 M | 2,641 | |
Spend management and accounts payable solutions are delivered to businesses. | 2019 | New York, New York, United States | USD 3.21 B | – | – | |
Payment acceptance and processing solutions provider for businesses | 2018 | Gurugram, Haryana, India | USD 604.02 M | USD 179.52 M | 709 | |
Business spends, payments, and rewards are streamlined by automated workflows. | 2011 | Hyderabad, Telangana, India | USD 13.75 M | USD 149.43 M | 431 | |
Online payment processing and credit solutions are provided for businesses. | 2002 | Amsterdam, Netherlands | USD 35.15 M | USD 5.47 B | 1,200 | |
SaaS-driven credit card and spend management solutions platform for businesses | 2017 | Draper, Utah, United States | USD 1.16 B | – | 1 |
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Frequently Asked Questions about PayFi
PayFi was founded in 2016.
PayFi is headquartered in Fort Lauderdale, United States. It is registered at Fort Lauderdale, Florida, United States.
PayFi is a funded company, having raised a total of $3.01M across 3 funding rounds to date. The company's 1st funding round was a Seed of $700K, raised on Sep 2016.
PayFi offers a real-time payments platform to process various payment transactions for merchants, processors, and banks. Offers API library services to create a custom payment solution; consulting on electronic payment transaction processing across various channels, including real-time, ACH, RCC, eCheck, Internet, and mobile for banking, financial services, and merchant establishments; and merchant services that support small and large businesses. Provides treasury management portal for organizing and viewing financial accounts; and mobile payment processing services.
PayFi's top competitors include Stripe, PayU and Flutterwave.
PayFi has made 1 acquisition, including PRMPayments.
PayFi has 1 investor. Key investors include OV Loop.
Yes. PayFi was acquired by OV Loop in January 2021.