Tag Archives: richmond


Paymerang Featured in the Richmond Times-Dispatch

Paymerang was recently featured in the Richmond Times-Dispatch after receiving another capital investment to expand their workforce and products. The $10 million investment comes from Aldrich Capital Partners, a Bethesda, Md.-based private equity firm. Aldrich previously invested $26 million in Paymerang in 2018, helping the company add employees and office space. The new capital infusion … Read More

Paymerang Makes Inc. Magazine’s Top 5000 Fastest-Growing Companies in the U.S

Inc. magazine announced that Paymerang is on its annual Inc. 5000 list, the most prestigious ranking of the nation’s fastest-growing private companies. The list represents a unique look at the most successful companies within the American economy’s most dynamic segment—its independent small businesses. Paymerang CEO, Nasser Chanda, responded to the award announcement by stating, “Paymerang … 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 Featured in the Richmond Times-Dispatch

Paymerang was recently featured in the Richmond Times-Dispatch after receiving another capital investment to expand their workforce and products.

The $10 million investment comes from Aldrich Capital Partners, a Bethesda, Md.-based private equity firm. Aldrich previously invested $26 million in Paymerang in 2018, helping the company add employees and office space.

The new capital infusion from Aldrich will be used to expand marketing and sales efforts and build new automated financial management solutions for Paymerang’s mid-market customers.

“It helps us to accelerate our growth rate and expand our reach across the country,” said Nasser Chanda, CEO of Paymerang. “It helps us to bring new talent into the organization, and it helps us scale our offerings to a much broader set of customers.”

Paymerang plans to add about 100 jobs this year to its current staff of about 150.

“On the technology side, we are going to be expanding our product development team,” Chanda said. “On the sales side, we are continuing to grow. We have a strong team of inside sales that we are trying to expand. Our operations team also has growth.”

The initiatives include adding additional accounts payable and accounts receivable components to its core payment automation solution — a product that has driven the company’s growth.

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.

“Since our initial investment, we’ve been thrilled with Paymerang’s success,” said Mirza Baig, co-founder and managing partner of Aldrich, in a statement. “I believe this round of funding will accelerate growth and solidify Paymerang’s position as a premier provider of finance automation solutions.”

Read the full article in the Richmond Times-Dispatch.

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

Paymerang Makes Inc. Magazine’s Top 5000 Fastest-Growing Companies in the U.S

Inc. magazine announced that Paymerang is on its annual Inc. 5000 list, the most prestigious ranking of the nation’s fastest-growing private companies. The list represents a unique look at the most successful companies within the American economy’s most dynamic segment—its independent small businesses.

Paymerang CEO, Nasser Chanda, responded to the award announcement by stating, “Paymerang is honored to join the ranks of the fastest-growing companies in America. We are firmly rooted in our mission of delivering finance automation for the modern enterprise, and look forward to many more years of rapid growth ahead!”

Complete results of the Inc. 5000, including company profiles and an interactive database, can be found at www.inc.com/inc5000.

The 2020 Inc. 5000 is ranked according to percentage revenue growth when comparing 2016 and 2019. To qualify, companies must have been founded and generating revenue by March 31, 2016. They had to be U.S.-based, privately held, for-profit, and independent—not subsidiaries or divisions of other companies—as of December 31, 2019.

Follow Paymerang on LinkedIn, Twitter, Facebook and Instagram to stay up to date on the latest Paymerang news and get a behind the scenes look at the people that drive our company’s growth!

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.