AeroPay, a Chicago-based digital payments platform powering the bank transfer payment for the businesses, has now secured $5+ million in the funding round.
AeroPay is founded by Daniel Muller. It offers an API-driven platform that, as of now, processes payments for the hundreds of brick and mortar and eCommerce businesses which includes technology, restaurants, non-profits, retail, and cannabis.
While on the other hand, AeroPay services all verticals; the company has seen major success with cannabis businesses since launching into the industry.
AeroPay uses strategic partnerships with other ancillary technology providers such as Blackbird, a cannabis software and delivery company.
“We’ve kept an eye on what the team at AeroPay has been building and we’re impressed by their ability to execute. They’ve done it without cutting corners,” said Stuart Larkins, Co-Founder and General Partner of Chicago Ventures. “We firmly believe they are changing the way money moves in a manner that will positively impact businesses of all kinds. Their recent growth and base of operations in Chicago made it a great fit for our firm and we’re excited to be on the journey with them.”
“We’re proud that our platform can handle a variety of use cases through our API and frontend technology. Our ability to be flexible and solve many of our customer’s pain points allows us to be the long term payments partner they need,” said Daniel Muller, CEO & Founder of AeroPay. “We’re excited to continue bringing better payment options to underserved markets that have been left behind by traditional providers.”
The round was backed by the Chicago Ventures with participation from the Continental Investors.
The company, as of now, has plans to use the new funds to recruit new talent and build out additional features of the product.