Aeropay, a Chicago-based provider of Pay-By-Bank solutions for businesses, has secured million in Series B funding. The funding round was led by Group 11, with participation from Chicago Ventures and Continental Investment Partners.
With this new injection of capital, Aeropay plans to expand its operations, develop new product offerings, enhance strategic partnerships, and explore greenfield opportunities. Led by CEO and Founder Daniel Muller, Aeropay offers financial technology solutions that enable businesses to provide secure digital payments to customers both in-store and online.
The company’s platform utilizes Aerosync, a homegrown bank aggregator, to connect bank accounts and facilitate account-to-account payments through open APIs. Aeropay initially found success in regulated industries and is now entering new markets such as financial services, wellness, utilities, QSR, and property management.
Aeropay has experienced significant growth, with a 10x increase in revenue over the past year and processing over billion in volume annually. The company achieved cash-flow profitability in Q4 of 2023.
This funding round positions Aeropay for continued growth and innovation in the financial technology sector.
