Payzer locks in $4.25m for workers finance tools

Mobile finance tool for workers in the field Payzer has raised $4.25m in a Series B round of equity capital.

The funding for the Charlotte-based company comes from Route 66 Ventures, Grotech Ventures and IDEA Fund Partners.

Payzer’s technology is designed to allow contractors in the field to accept multiple types of card and digital payments, as well as access financing of up to $55,000 to use instead of a company card.

Co-founder and CEO of Payzer Joe Giordano said, “Our contractors have come to rely on us for innovative software, reliable payment technologies, and friendly customer service. This additional funding allows us to increase our investments in all three areas.”

The round brings Payzer’s total funding to $8.4m with the firm previously raising $1.5m in debt financing from Square 1 Bank.

Copyright © 2016 FINTECH GLOBAL