About PaymentWorks
PaymentWorks is a company based in Cambridge (United States) founded in 2013 by Alan Greenblatt and Thayer Stewart.. PaymentWorks has raised $36.21 million across 6 funding rounds. PaymentWorks offers products and services including Vendor Management System and Vendor Onboarding Software. PaymentWorks operates in a competitive market with competitors including Quantexa, ComplyAdvantage, Entrust, Riskified and Megvii, among others.
- Headquarter Cambridge, United States
- Founders Alan Greenblatt, Thayer Stewart
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Sectors
TechnologyIndustrial Goods & Manufacturing Financial Services
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Phone
*********
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Website
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Social
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- Legal Name Paymentworks
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Annual Revenue
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Net Profit
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EBITDA
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Total Equity Funding
$36.21 M (USD)
in 6 rounds
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Latest Funding Round
$12 M (USD), Series A
Dec 30, 2023
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Investors
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Employee Count
Employee Count
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Products & Services of PaymentWorks
PaymentWorks offers a comprehensive portfolio of products and services, including Vendor Management System and Vendor Onboarding Software. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
Automates vendor onboarding and fraud prevention for businesses.
Facilitates secure supplier verification and electronic payments.
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Funding Insights of PaymentWorks
PaymentWorks has successfully raised a total of $36.21M across 6 strategic funding rounds. The most recent funding activity was a Series A round of $12 million completed in December 2023. 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 Total Funding
- Total Rounds 6
- Last Round Series A — $12.0M
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First Round
First Round
(19 Nov 2014)
- Investors Count Investors Count
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Dec, 2023 | Amount | Series A - PaymentWorks | Valuation |
investors |
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| Jun, 2022 | Amount | Series A - PaymentWorks | Valuation |
investors |
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| May, 2020 | Amount | Series A - PaymentWorks | Valuation |
investors |
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| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investments & Acquisitions by PaymentWorks
| Company Name | Description | Domain | Location | Founded Year | Amount |
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
Financial Statements - PaymentWorks
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Paymentworks Comparisons
Competitors of PaymentWorks
PaymentWorks 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 Quantexa, ComplyAdvantage, Entrust, Riskified and Megvii, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
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| domain | founded_year | HQ Location |
AI-powered data and decision intelligence solutions are provided for businesses.
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| domain | founded_year | HQ Location |
Cloud-based anti-money laundering solutions are provided for compliance.
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| domain | founded_year | HQ Location |
Provider of digital identity management solutions
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| domain | founded_year | HQ Location |
AI-based fraud prevention for e-commerce payments is provided.
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| domain | founded_year | HQ Location |
Facial recognition and AI video analysis solutions are provided.
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| domain | founded_year | HQ Location |
Provider of fraud prevention and payment validation for online retailers
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| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Frequently Asked Questions about PaymentWorks
When was PaymentWorks founded?
PaymentWorks was founded in 2013 and raised its 1st funding round 1 year after it was founded.
Where is PaymentWorks located?
PaymentWorks is headquartered in Cambridge, United States. It is registered at Cambridge, Massachusetts, United States.
Who is the current CEO of PaymentWorks?
Thayer Stewart is the current CEO of PaymentWorks. They have also founded this company.
Is PaymentWorks a funded company?
PaymentWorks is a funded company, having raised a total of $36.21M across 6 funding rounds to date. The company's 1st funding round was a Series A of $1.78M, raised on Nov 19, 2014.
What does PaymentWorks do?
PaymentWorks was founded in 2013 in Cambridge, United States, within the payments sector. Fraud detection solutions are provided to safeguard transactions. Credentials and identities are verified, with identity proofing conducted to mitigate risks. A Business Identity Platform is operated, enabling payers and payees to exchange verified identity elements. Payee identities and banking information are specifically checked as part of the process.
Who are the top competitors of PaymentWorks?
PaymentWorks's top competitors include ComplyAdvantage, Riskified and Quantexa.
What products or services does PaymentWorks offer?
PaymentWorks offers Vendor Management System and Vendor Onboarding Software.