Tag Archives: aldrich capital partners


Paymerang Receives Additional $10M in Funding

AP Automation Leader to Accelerate Growth and Deliver Complete Finance Automation Suite Paymerang, a leader in accounts payable (AP) automation solutions, announced a second round of financing from Aldrich Capital Partners in the amount of $10M, which follows-up Aldrich Capital’s initial 2018 investment of $26M. Paymerang will use the new capital to expand sales and … Read More

Rethinking Checks’ Role In B2B Payments Friction

Rethinking Checks’ Role In B2B Payments Friction Paymerang CEO, Nasser Chanda, recently spoke with PYMNTS about the evolution of B2B payments—in particular, the shift to electronic payments and the continuing role of traditional paper checks. Since our story began in 2010, we’ve had one simple goal in mind: to facilitate electronic supplier payments and make business payments … Read More

Aldrich Capital Partners Invests $26 million in Paymerang

Today was a red-letter day at Paymerang! At a special event that included Virginia Governor Ralph Northam, we announced that Aldrich Capital Partners made a $26 million growth investment in our company. This investment will help us grow organically and through acquisitions in the Procure-to-Pay space. You can view the full press release here. Governor … Read More

Paymerang Receives Additional $10M in Funding

AP Automation Leader to Accelerate Growth and Deliver Complete Finance Automation Suite

Paymerang, a leader in accounts payable (AP) automation solutions, announced a second round of financing from Aldrich Capital Partners in the amount of $10M, which follows-up Aldrich Capital’s initial 2018 investment of $26M.

Paymerang will use the new capital to expand sales and marketing efforts and build new finance automation solutions for mid-market organizations. These initiatives include adding additional accounts payable and accounts receivable components to Paymerang’s core payment automation solution—a product that has driven the company’s incredible growth.

The payment automation solution is a SaaS based offering that enables AP teams to automate vendor disbursements. This solution provides push-button, mass vendor payments, and reconciliation, through a variety of payment modalities, to a network of over 400,000 vendors.

Nasser Chanda, CEO of Paymerang, commented, “Despite all the global challenges, it’s been a phenomenal year of growth for Paymerang, for our people, and for our clients. We’re excited to deploy this capital infusion to accelerate our growth, bring new talent into the organization, scale our core offerings, and further automate the office of the CFO.”

As part of a full finance automation initiative, Paymerang will expand its Invoice Automation Solution—which saves time in approving and posting invoices, as well as in reducing errors through automated invoice capture and posting. This Invoice Automation Solution, when combined with payment automation, provides complete AP automation from invoice receipt to payment settlement. Moreover, because it’s a paperless SaaS-based solution, clients can securely operate their finance department, either in the office or remotely.

“In the current environment, business continuity requires that organizations move from antiquated, paper-based processes to automated solutions that reduce costs and free up resources,” continued Chanda. “That being said, the majority of U.S. companies have yet to shift to an automated process, which provides us with tremendous opportunities to fill this urgent need.”

“Since our initial investment, we’ve been thrilled with Paymerang’s success,” stated Aldrich Capital Partner Mirza Baig. “I believe this round of funding will accelerate growth and solidify Paymerang’s position as a premier provider of finance automation solutions.”

Learn how your finance team can leverage the latest in finance automation technology by scheduling a no-obligation call with our team here.

Rethinking Checks’ Role In B2B Payments Friction

Rethinking Checks’ Role In B2B Payments Friction

Paymerang CEO, Nasser Chanda, recently spoke with PYMNTS about the evolution of B2B payments—in particular, the shift to electronic payments and the continuing role of traditional paper checks. Since our story began in 2010, we’ve had one simple goal in mind: to facilitate electronic supplier payments and make business payments easy, for payors and payees alike.

Paymerang recognizes that vendor relationships are the lifeblood of our clients’ businesses—happy vendors enable successful operations—and we do not want to disrupt that relationship long-term. We are flexible in working with vendors during the enrollment process, offering choice and ensuring that payment settlement is friction-less, whether by electronic payment or check. Typically, these suppliers recognize that their customers want to shift from paper checks to more secure and efficient methods of payment, such as a virtual card or ACH. Flexibility in working with vendors and persistence in settling payments has allowed Paymerang to keep vendors happy while achieving a world-class electronic payment acceptance over the years. Our payment network spans 70,000+ suppliers from coast to coast, with 75% receiving electronic payments over traditional checks.

You can view the full PYMNTS article “Rethinking Check’s Role in B2B Payments Friction”.

 

Aldrich Capital Partners Invests $26 million in Paymerang

Today was a red-letter day at Paymerang! At a special event that included Virginia Governor Ralph Northam, we announced that Aldrich Capital Partners made a $26 million growth investment in our company. This investment will help us grow organically and through acquisitions in the Procure-to-Pay space.

You can view the full press release here.

Governor Northam met the Paymerang team and shared his delight at the innovative work we are doing for our clients across the country within healthcare, education, media, manufacturing, services and banking. Our partnership with Aldrich Capital will allow us to invest aggressively in operations, new product development and marketing. This partnership will result in over 100 new jobs over the next five years within the highly valued Fin-Tech sector.

Nasser Chanda, CEO of Paymerang, stated that Aldrich is the right investment partner for Paymerang. “When I met Mirza Baig, founding partner of Aldrich Capital, I knew that he would support us as a true partner, interested in our vision,” he said. We will accomplish great things together for our employees, our clients and our market.

Baig echoed our CEO’s comments and added, “This the largest investment that we have made in the state of Virginia and we believe whole-heartedly in the Paymerang team.” He also praised Governor Northam for his efforts to stimulate economic growth, invest in education and create 21st century jobs.

We look forward to sharing more details about this exciting new venture with Aldrich Capital in upcoming blog posts.