Conversational Commerce Leader Authvia Closes its $7 Million Series A Financing
Capital will be used to accelerate the company’s growth and go-to-market activities while also adding to Authvia’s technology lead in the text to pay market
Pay2Day Solutions, Inc. (Authvia) announced that it has closed a $7 million Series A financing led by Red Door Capital Partners, an independent private equity firm. This financing is already being used to accelerate Authvia’s partner channels and overall sales and marketing efforts. Authvia’s patented text-to-pay solution (“TXT2PAY®”) enables businesses to request and receive payments via text and other digital messaging channels; accelerating cash flow, eliminating PCI risk, and safeguarding data, while providing a seamless mobile payment experience.
“Not only did we understand the value of Authvia’s innovative technology, we saw the clear mission and significant growth opportunity in front of us.”
Enterprises and ISV´s looking to implement Authvia’s solutions can access TXT2PAY through modern APIs, Authvia Portal, Authvia for Salesforce and/or connect their own payment and messaging partners, using any of the over 200 certified payment processors, gateways, SMS and messaging providers in the Authvia network. Authvia’s proprietary multi-processor, multi-merchant wallet technology stores and encrypts credit, debit, and ACH credentials allowing consumers to pay with a simple text response any time they receive an invoice or payment request.
“Our goal is to innovate and provide the most compelling conversational commerce experience in the market today, for merchants and consumers alike,” shared Chris Brunner, Founder and CEO, Authvia. “We are thrilled to have closed this round of Series A funding led by Red Door as it has enabled us to expand our market reach and grow our team, quadrupling our sales and marketing efforts. We have also been able to exponentially grow our pipeline, allowing us to move forward with our mission as the leader in the next generation of payments and messaging technology.”
Richard Wolpow, Managing Partner at Red Door, stated, “Not only did we understand the value of Authvia’s innovative technology, we saw the clear mission and significant growth opportunity in front of us.”
“Technology is rapidly changing how we conduct business daily, and in Authvia’s patented text-to-pay solutions, we saw an opportunity to be a proactive part of that change while supporting the drastically increased demand for this type of technology,” Wolpow added. “We are very excited about the significant growth and development opportunities this funding will not only provide to Authvia, but how it will fundamentally shape the way payments-at-large are transacted for the foreseeable future.”
“Our team is both passionate and dedicated to executing on our mission, and I am thankful to be surrounded by such a talented group of people that show up every day with a ‘future is now’ mindset. With an incredible team at the helm, patented technology, and surging market demand, I believe we are well positioned for explosive growth,” Brunner concluded.
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