About Payrailz
Payrailz is a Financial Services company based in Glastonbury (United States) founded in 2016 by Rich Pelikan, and was acquired by Jack Henry in August 2022. Digital payment services for businesses are provided by Payrailz. Payrailz has raised $21.15 million across 3 funding rounds from investors including Truist, Fiserv and Jack Henry. The company has 59 employees. Its chief executive, as recorded, is Fran Duggan. The company was acqui-hired. Payrailz offers products and services including Digital Banking Platform, Payrailz Payments Platform, and Operations Core Platforms. Its focus areas include FinTech, Payments, Business Payments and Bill Payments. Its legal entity is PAYRAILZ, LLC. Its competitors include Paytrust, Aliaswire and PaymentVision; 2 of its 3 listed competitors have raised funding.
Company details
Payrailz was founded in 2016 in Glastonbury, United States, as a provider in the fintech sector. Bill payment and money transfer solutions are offered to banks and credit unions through AI, security features, cloud-based software, and chatbots. Users are enabled to access billing information and schedule payments for immediate, same-day, next-day, future, or recurring dates. Electronic sending, requesting, and splitting of money are also facilitated.
- Headquarters Glastonbury, United States
- Employees 59
- Founders Rich Pelikan
- Stage Acquired
- SectorsFinancial Services
- Email••••••••
- Phone•••• ••••
- Website payrailz.com
- Social LinkedIn X Facebook
- Acquired by Jack Henry (Aug 2022)
- Legal Name Payrailz, Llc
- Total Equity Funding$21.15M (USD)
in 3 rounds
- Latest Funding Round$15M (USD), Series B
Sep 2020
- InvestorsTruist
& 6 more
- Employee Count59
- Acquired byJack Henry
(Aug 2022)
Products & Services of Payrailz
Payrailz offers a comprehensive portfolio of products and services, including Digital Banking Platform, Payrailz Payments Platform, and Operations Core Platforms.
Platform for online banking and account management services.
System for instant payments and transaction processing solutions.
Tools for branch operations and data analytics management.
Funding Insights of Payrailz
Payrailz has successfully raised a total of $21.15M across 3 strategic funding rounds. The most recent funding activity was a Series B round of $15 million completed in September 2020. 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 $21.15M
- Total Rounds 3
- Last Round Series B — $15M
- First Round $2.4M
(Nov 2017)
- Investors Count 6
All 3 funding rounds of Payrailz 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 |
|---|---|---|---|---|---|
| Sep 2020 | $15M | Series B | – | – | – |
| Nov 2018 | $3.75M | Series A | – | – | |
| Nov 2017 | $2.4M | Series A | – | – |
7 investors in total: 7 institutional.
Investors in Payrailz
Payrailz has secured backing from 7 investors, including institutional and venture fund investors. Prominent investors backing the company include Truist, Fiserv and Jack Henry.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
Venture capital investments are provided to Texas-based tech founders. | liveoakvp.com | United States | ||
Investments are made by TTV Capital in early-stage fintech companies. | ttvcapital.com | Atlanta, United States | ||
Payment processing and electronic commerce services are offered worldwide. | 1971 | firstdata.com | Atlanta, United States | |
Woodforest National Bank is engaged in providing banking and financial services. | woodforest.com | United States | ||
Provides personal checking, savings, loans, investments, and online banking services. | 1935 | websteronline.com | New Haven, United States | |
Wealth advisory and banking services are offered to clients. | 1872 | truist.com | Charlotte, United States | |
Banking and payments solutions are provided through a dedicated platform. | 1976 | jackhenry.com | Monett, United States |
Investor details for Payrailz
The complete investor list, round-by-round participation and investor portfolios require an active premium plan.
- Complete investor list
- Round participation
- Investor portfolios
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People of Payrailz
18 people are tracked at Payrailz (8 in leadership, 5 in board & advisors, 5 in team); the tracked headcount is 59.
| Name | Role | Group |
|---|---|---|
Rich Pelikan | Co-Founder | Leadership |
Fran Duggan | CEO | Leadership |
Denise Delisle | VP, Payment Operations | Leadership |
Jim Kern | VP, Chief Sales Officer | Leadership |
Gereen Langmeyer | VP, Client Experience | Leadership |
Ted Chaney | VP, Strategic Partnerships & Channels | Leadership |
Kavita Singh | VP, AI Product Management | Leadership |
Lena Mitchell | VP of Implementation | Leadership |
James S. Mahan III | DIrector | Board & advisors |
James D. Dreibelbis | Director | Board & advisors |
Mark A. Johnson | Director | Board & advisors |
John J. Carew | Director | Board & advisors |
Neil Underwood | Director | Board & advisors |
Frank Chan | Security & Compliance Officer | Team |
Frank C. | Security And Compliance Officer | Team |
Samantha Brewer | Senior Implementation Specialist | Team |
Megan Greene | Security Administrator | Team |
Rob Italiano-Hedges | Senior Implementation Specialist | Team |
Complete people profiles for Payrailz
Full employee and board profiles, team structure, tenure and professional contact details require an active premium plan.
- Full employee list
- Team structure
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Timeline of Payrailz
4 dated milestones of Payrailz across 6 years, from founding to its latest funding, stage changes and deals.
- Founded Payrailz is founded.
- Funding First funding round of $2.4M.
- Funding Latest funding round, Series B, of $15.0M.
- Exit Acquired by Jack Henry.
Competitors of Payrailz
Payrailz has 3 listed competitors in our database, 2 of them funded. They include Paytrust, Aliaswire and PaymentVision.
| Company Name | Domain | Founded | HQ Location | Total funding | Employees | Description |
|---|---|---|---|---|---|---|
| paytrust.com | 1998 | Menlo Park, United States | $30M | Bill management and payment platform | ||
| aliaswire.com | 2005 | Burlington, United States | $6M | 26 | Account receivable management software is provided for enterprises. | |
| paymentvision.com | 1988 | Jacksonville, United States | Provides customized financial technology for payment processing and compliance. |
Detailed competitors of Payrailz
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- Full competitor set
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- Benchmarks
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Verified entity values are shown only after access is granted.
Top companies in Payments & Remittance Platforms
3 companies that operate in the same segment as Payrailz (Payments & Remittance Platforms) in United States, ranked by their profile score on The Company Check.
| Company | Description | Founded | Location | Total funding | Revenue | Employees |
|---|---|---|---|---|---|---|
Payment processing and card issuance solutions are provided for businesses. | 2009 | San Francisco, California, United States | USD 9.81 B | 16,622 | ||
Cloud-based accounts payable and receivable software for businesses | 2006 | Palo Alto, California, United States | USD 325.6 M | USD 1.65 B | 3,108 | |
Spend management and accounts payable solutions are delivered to businesses. | 2019 | New York, New York, United States | USD 5.07 B | 6,209 |
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Related news about Payrailz
Complete news archive for Payrailz
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Frequently Asked Questions about Payrailz
Payrailz was founded in 2016 and raised its 1st funding round 1 year after it was founded.
Payrailz is headquartered in Glastonbury, United States. It is registered at Glastonbury, Connecticut, United States.
Fran Duggan is the CEO of Payrailz, as recorded in our data.
Payrailz is a funded company, having raised a total of $21.15M across 3 funding rounds to date. The company's 1st funding round was a Series A of $2.4M, raised on Nov 2017.
Payrailz has 59 employees.
Payrailz was founded in 2016 in Glastonbury, United States, as a provider in the fintech sector. Bill payment and money transfer solutions are offered to banks and credit unions through AI, security features, cloud-based software, and chatbots. Users are enabled to access billing information and schedule payments for immediate, same-day, next-day, future, or recurring dates. Electronic sending, requesting, and splitting of money are also facilitated.
Payrailz's top competitors include Paytrust, Aliaswire and PaymentVision.
Payrailz offers Digital Banking Platform, Payrailz Payments Platform, and Operations Core Platforms.
Payrailz has 7 investors. Key investors include Truist, Fiserv, Jack Henry, LiveOak, and Woodforest National Bank.
Payrailz operates through Payrailz, Llc.
Yes. Payrailz was acquired by Jack Henry in August 2022.