PayNearMe, a leading fintech revolutionizing payment experiences for non-commerce businesses, has secured $50 million in Series E funding from AVP (Atlantic Vantage Point) through its Growth Fund I. This investment will propel PayNearMe's market expansion and product enhancements, focusing on Payment Experience Management to simplify end-to-end payments, boost cash flow, and reduce acceptance costs for clients in sectors like finance, property management, and healthcare.
PayNearMe addresses longstanding inefficiencies in non-commerce payments, where businesses treat acceptance as a mere cost rather than a differentiator. The funding enables deeper investment in PayXM, the industry's first platform purpose-built for comprehensive payment journey management across all major types and channels. This rebranding reflects PayNearMe's evolution from cash-focused origins to a holistic solution that accelerates payments, enhances customer satisfaction, and drives profitability through data-driven personalization.
"PayNearMe has redefined what it means to deliver a modern payment experience. The company is uniquely positioned to solve challenges in a space long underserved and overlooked," said Elizabeth de Saint-Aignan, General Partner and Head of Growth Fund, North America at AVP. "PayNearMe's vision and proven execution are changing how non-commerce businesses approach payments, and we're excited to support them in this next stage of growth."
"For too long, payments have been treated only as a cost of doing business," said Danny Shader, CEO of PayNearMe. "We see improving payments as a powerful opportunity to help businesses differentiate, drive customer satisfaction, and improve business results. AVP's funding will allow us to deliver the benefits of Payment Experience Management to more clients and in new markets."
The capital will expand PayNearMe's footprint into underserved verticals like insurance and legal services, while advancing PayXM's capabilities for seamless integration with CRMs and ERPs. Recent innovations, including PayNearMe's 2024 acquisition of Prism Money for mortgage payments, underscore its commitment to inclusive solutions supporting diverse payment methods. With $8B+ in annual transaction volume, PayNearMe processes payments for over 2 million users monthly, emphasizing security (PCI DSS compliant) and accessibility.
AVP's investment aligns with its focus on high-growth tech in Europe and North America, managing €2.5B across venture, growth, and fund-of-funds strategies. Since 2016, AVP has backed 60+ tech firms, providing not just capital but expansion support through dedicated teams.
PayNearMe's Series E, following a $45M Series D in 2023 led by QIC, positions it to capture share in the $3.5T bill payments market by 2030. By prioritizing experience over transaction costs, PayNearMe empowers non-commerce businesses to turn payments into competitive advantages, fostering loyalty and efficiency in a digital-first economy.
AVP is an independent global investment platform dedicated to high-growth, tech (from deep-tech to tech-enabled) companies across Europe and North America. The firm manages more than €2.5 billion in assets across four strategies: venture, early growth, growth, and fund of funds. Its multi-stage platform combines global research with local execution to drive investment. Since its establishment in 2016, AVP has invested in more than 60 technology companies and in over 60 funds through its Fund of Funds strategy. Beyond providing capital, AVP's dedicated expansion team works closely with founders, offering expertise, connections and resources needed to unlock growth opportunities, and create lasting value through meaningful collaborations. More information at www.avpcap.com.
PayNearMe is redefining the way businesses and their customers experience payments. With PayXM™, the industry's first platform purpose-built for Payment Experience Management, every touchpoint in the payment journey becomes easy— driving customer satisfaction, accelerating payments, and reducing the total cost of acceptance. The platform supports all major payment types and channels, from PayPal, Venmo, Cash App Pay, Apple Pay, Google Pay, cards and ACH to cash at more than 62,000 U.S. retail locations.
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