SINGAPORE, Oct. 29, 2024 — Junee Limited (NASDAQ: JUNE) (the “Company”), today announced its strategic focus on developing and operating artificial intelligence (AI) computing centers. To support this initiative, the Company plans to raise up to US$40 million through a financing round, with the funds earmarked for the establishment of an AI supercomputing center in Australia and to bolster its working capital.

The planned financing of up to US$40 million will be used primarily for two key purposes:

1.  Establishment of an AI supercomputing center in Australia: The funds will support the construction and operation of a state-of-the-art AI supercomputing center, which is expected to consist of 511 AI servers equipped with up to 4,088 NVIDIA H200 or higher level GPUs. The total investment in this project could reach up to US$200 million, with the project being implemented in phases.

2.  Working Capital: A portion of the funds will be allocated to enhance the company’s working capital, providing financial flexibility and support for ongoing operations.

“We are excited to embark on this new chapter, where we will leverage our expertise and resources to build a robust AI computing infrastructure,” said Yu Chun Kit, Director of Junee Limited. “The planned financing will provide us with the necessary capital to establish a world-class AI supercomputing center in Australia and support our broader business objectives. We are confident that this strategic focus will drive significant growth and value for our stakeholders.”

Junee Limited is committed to becoming a leading player in the AI computing sector, driven by the increasing demand for advanced computing capabilities. To accelerate its entry into the AI computing market, Junee Limited has entered into a non-binding memorandum of understanding with PanaAI Technology Pty Ltd (“PanaAI”), an NVIDIA Cloud Partner based in Australia on August 27, 2024. By investing in cutting-edge technology and forming strategic partnerships, the company expects to capture a significant share of the market and contribute to the advancement of AI technology.

Historical Events: 

On August 27, 2024, the Company announced that it entered into a non-binding memorandum of understanding with PanaAI. PanaAI is an AI computing services and operations company that is a NVIDIA Cloud Partner in Australia and member of the NVIDIA Ecosystem in Australia. Both parties agreed to collaborate on the development of AI products and explore the construction of AI supercomputing centers in Australia, potentially involving up to US$200 million in investment, including 511 AI servers with up to 4,088 NVIDIA H200 or higher level GPUs.

On September 18, 2024, the Company announced that its wholly-owned subsidiary, ASPAC AI Computing Pty Ltd (“ASPAC”) entered into a service contract with PanaAI for the design, integration, and deployment of an artificial intelligence superfactory (AISF).

On October 15, 2024, the Company announced that ASPAC entered into a customer purchase agreement with PanaAI for the procurement of hardware and software services from PanaAI. Pursuant to the customer purchase agreement, PanaAI will provide ASPAC with data center infrastructure, NVIDIA Networking products, NVIDIA H200 GPU servers, and professional services. As consideration for the services, ASPAC shall pay PanaAI in installments totaling approximately US$100 million. The customer purchase agreement and services are part of the Company’s non-binding memorandum of understanding with PanaAI for up to US$200 million of investment announced on August 27, 2024.

About Junee Limited:

Junee Limited (NASDAQ: JUNE) with its wholly owned subsidiary ASPAC AI Computing Pty Ltd (“ASPAC”), is an innovative technology company specializing in supercomputing infrastructure, and dedicated to advancing artificial intelligence and high-performance computing (HPC). As the global demand for GPU-accelerated cloud computing and large-scale computational resources surges, the Company stands at the forefront of continuously driving technological innovation and invest in infrastructure to provide robust computing power to industry users, startups, government agencies, and research institutions.

Its mission is to become a leading provider of high-performance AI computing solutions. The Company is currently undergoing construction of a supercomputer facility in the Southern Hemisphere, which is designed to empower rapid advancements in cutting-edge technologies such as Large Language Models (LLMs), Vision-Language Models (VLMs), autonomous driving, robotics, bio-genomics, climate science, environmental studies, disaster management, and energy development.

Through its advanced computing resources, the Company aims to help industries meet the technological challenges of the future, driving global innovation and collaboration.

This press release contains forward-looking statements that involve risks and uncertainties. Actual results may differ materially from those indicated by such forward-looking statements due to various factors. Investors are advised to refer to the documents filed by Junee Limited with the Securities and Exchange Commission, including the most recent Form 20-F, for a discussion of these risks and uncertainties.

SOURCE Junee Limited

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Emerging cloud computing leader GMI Cloud to accelerate AI adoption, help meet growing demand for AI infrastructure with NVIDIA accelerated computing, and open new U.S. data center

SANTA CLARA, Calif., Oct. 29, 2024 — GMI Cloud, a leading AI-native GPU cloud provider, has announced today that it has raised $15 million in equity funding and $67 in debt financing in a Series A round led by Headline Asia, bringing the company’s total capital to over $93 million. The round includes strategic investments from Banpu Next (BANPU.BK), a leading smart energy solutions provider in the Asia-Pacific region, and Wistron Corporation (3231.TW), a global leading technology service provider. The funding will be used to open a new U.S. data center in Colorado and reinforces the Silicon Valley-based company’s position as a premier vertically integrated cloud provider. GMI Cloud is creating the foundation for an AI-driven future and is strategically positioned to provide advanced scalability and comprehensive solutions for ML deployments all over the world.

Fueled by Big Tech, innovation in artificial intelligence (AI) and research has skyrocketed across industries and the global AI market is projected to reach $1.8 trillion by 2030. As businesses increasingly prioritize AI and data strategies, the demand for GMI Cloud’s comprehensive cloud solution will continue to surge.

GMI Cloud stands apart with its end-to-end AI solutions — combining flexible GPU infrastructure based on NVIDIA accelerated computing with Cluster Engine, the company’s proprietary resource management and orchestration platform. These offerings provide businesses with seamless scalability, optimized performance, and robust security measures for AI-driven projects, helping enterprises scale confidently while protecting their data and infrastructure.

“We’re at a launching point in our company’s journey,” said Alex Yeh, Founder and CEO of GMI Cloud. “We’ve seen the wide array of struggles for start-ups and large enterprises seeking to implement AI strategies. This funding empowers us to enhance the performance, security, and accessibility of our platform, helping businesses around the world scale even the most demanding AI workloads with confidence and efficiency.”

GMI Cloud leverages its global operations and strategic partnerships with leading OEMs to enable rapid deployment and reduced lead times for GPU access worldwide. Along with its longstanding presence in Taiwan, the company’s new Colorado data center will serve as a critical hub for expanding GMI Cloud’s capacity, particularly in North America. This strategic expansion enhances the company’s ability to meet growing global demand for GPU resources.

“GMI Cloud’s ability to rapidly deploy infrastructure to provide GPU accessibility in today’s demanding market perfectly embodies our “Go Global” approach,” said Akio Tanaka, Founding Partner at Headline Asia. “With his unique experience and relationships in the market, Alex truly understands how to scale AI infrastructure operations, making his company’s potential for growth limitless.”

Backed by a globally recognized team with deep expertise in AI, machine learning (ML), and cloud infrastructure, GMI Cloud combines decades of experience to address the evolving demands of AI-driven businesses. The team provides expert support to help clients smoothly scale their AI and data projects with reliable, high-performance solutions tailored to meet the needs of modern enterprises.

As a member of the NVIDIA Partner Network, GMI Cloud leverages NVIDIA’s accelerated computing platforms, providing customers with advanced infrastructure for AI and machine learning workloads and high-performance GPUs to help meet their computational needs.

For more information on getting started with GMI Cloud, visit gmicloud.ai today. 

About GMI Cloud
Headquartered in Silicon Valley, GMI Cloud is a venture-backed digital infrastructure company with the mission of empowering anyone to deploy AI effortlessly and  simplifying how businesses build, deploy, and scale AI through integrated hardware and software solutions. To learn more, visit gmicloud.ai.

SOURCE GMI Cloud

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Fin Capital’s Christian Ostberg and Payment Entrepreneur Randy Fernando Join Elevate Board

DENVER, Oct. 29, 2024 — Elevate, a modern consumer-directed benefits administration platform, today announced that it has secured $20 million in growth funding, led by Fin Capital with participation from Anthemis and SaaS Ventures. This latest round brings Elevate’s total funding to $63 million.

Christian Ostberg, general partner at Fin Capital, will be joining its board of directors. The company also announced the appointment of payments entrepreneur Randy Fernando as an independent board member.

Elevate’s technology powers the administration of consumer-directed benefits accounts, including for industry powerhouses like Rippling, an all-in-one platform for human resources, information technology, payroll and spend management. Elevate plans to use the new funding to enhance its industry-leading, AI-powered benefits engine, which automates processes to improve efficiency for benefits administrators, reduce costs, enrich the employee experience and grow usage rates. The company will continue to invest in product development, focusing on greater automation and new features that improve the user experience and cater to key partners.

“Elevate is taking an aggressive approach, disrupting the industry standard with superior technology that addresses the challenges facing today’s benefits administrators and end users, while legacy vendors struggle with tech debt and next-generation competitors focus on point solutions,” said Brian Cosgray, Elevate CEO and co-founder. “Our automated platform is driving strong revenue growth and efficiently serving hundreds of thousands of customers. We are honored that our existing investors – Fin Capital, Anthemis and SaaS Ventures – see the clear potential for our platform and have strengthened their commitments to support our upward trajectory.”

Elevate’s platform is used to administer benefits accounts like health savings accounts (HSAs), flexible spending accounts (FSAs) and health reimbursement arrangements (HRAs). Traditionally, reimbursement delays, lengthy claims reviews and manual processes have made these programs cumbersome for both employees and administrators.

Elevate addresses these challenges by introducing AI to support immediate, automated experiences for employees, creating modern interfaces while improving efficiency and reducing costs for administrators. The company’s cloud-based, API-driven solution offers the scalability and security companies need to support all plan types from a single platform.

“Benefits users stand to gain significantly as Elevate uses the power of AI and machine learning to solve a very real problem in benefits administration that has left American workers using legacy solutions with poor functionality until now,” said Ostberg. “We are proud to continue our support of Elevate, and I personally look forward to working more closely with this talented team in my new role on the board.”

“I’m excited to bring my fintech and payments expertise to the benefits space as an Elevate board member,” said Fernando. “It’s time to modernize how employees access their company benefits. Through its innovative use of AI and automation, Elevate is the only solution that is truly simplifying consumer payments for benefits accounts.”

About Elevate
Elevate is the first completely cloud-based, API-driven, and AI-enabled consumer directed benefits platform with a focus on configurability, embeddability, and real-time automation. The all-in-one platform can manage all types of benefit accounts, from health savings accounts (HSAs) to complex health reimbursement arrangements (HRAs), and even commuter and lifestyle accounts. Elevate’s team of industry experts recognized the need for modern technology in an outdated benefits administration industry, which led to the creation of Elevate in 2020. Today, Elevate collaborates with forward-thinking partners, including professional employer organizations (PEOs), third party administrators (TPAs), health plans, benefits administrators, and financial services companies, to provide a fully integrated benefits account experience for thousands of employers and their employees across the U.S. Learn more at www.elevate.inc

SOURCE Elevate

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AUSTIN, Texas, Oct. 29, 2024 — Billd, the leading provider of financial solutions for commercial subcontractors, announced its latest investment round today, securing $17.5M in strategic funding. This investment helps accelerate Billd’s mission, further solidifying the company’s role as an indispensable partner to subcontractors and empowering the organization to continue driving innovation in construction finance.

For years, subcontractors have operated within a financial system unable to meet their specific capital needs. Billd was created to solve this challenge by providing access to working capital designed for the construction industry. This investment signals the market’s confidence in Billd’s ability to revolutionize construction supply chain finance.

The round was led by LL Funds and MissionOG, with RJT Credit, Ulysses Management, and HighSage Ventures also participating. This marks the first investment from MissionOG, a growth equity firm with deep expertise in fintech and lending, and HighSage Ventures. Together, these companies are dedicated to Billd’s mission to expand financial solutions to meet the ever-growing demands of the construction industry.

“This investment represents a significant milestone for Billd,” said CEO Chris Doyle. “Our investors understand the complexities our customers face and share our commitment to empowering subcontractors. By working together, we are in a stronger position to accelerate our growth, expand our reach, and innovate at a pace that meets the evolving needs of our customers.”

“Billd’s unique financial solutions enable subcontractors to grow their business, instead of being held back by capital constraints,” said Raj Mundy, partner at LL Funds. “We’re proud to back Billd as they continue to grow and expand their efforts.”

Billd has achieved 120% revenue growth from 2021 to 2024, and this strategic funding round allows the company to enhance its product suite and refine its direction to ensure Billd remains at the forefront of solving subcontractor pain points.

“MissionOG is excited to partner with Billd to further accelerate the growth of the company’s financial solutions for an industry that historically has been stacked against subcontractors,” said Andy Newcomb, managing partner at MissionOG. “We are impressed with Billd’s reputation within its core market, the significant adoption of its solutions, and the fantastic growth opportunity to continue to be a difference maker in this large and important ecosystem. Above all else, we could not be more pleased with the Billd team and their ability to execute on this shared vision.”

Chris Doyle said, “We are more committed than ever to our role as Champion of the Subcontractor. This opportunity allows Billd to continue our long-term goal to develop unparalleled solutions for subcontractors nationwide.”

About Billd: Billd stands alone as a partner that truly champions the subcontractor. Founded in 2018 by two industry veterans in both construction and finance, Billd’s construction-specific financial and payment products empower subcontractors to overcome the impacts of the longstanding broken payment cycle in construction. Billd offers access to working capital solutions to cover subcontractors’ most pressing costs, including materials and labor, providing flexible credit to accommodate the unpredictability of cash flow in construction. Billd’s patented analytic and financing methodology allows subcontractors to stabilize cash flow and more effectively grow their businesses. Learn more at Billd.com

SOURCE Billd

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WASHINGTON, Oct. 29, 2024 — Halifax Group, a middle market private equity firm that partners with management to invest in market-leading companies, today announced that it has been named to Inc.’s 2024 Founder-Friendly Investors list. The list recognizes private equity, venture capital, and debt firms with the best track records of backing entrepreneurs.

This year’s list, Inc.’s sixth annual Founder-Friendly Investors list, showcases 269 firms that support entrepreneurs to drive growth in their businesses. All the firms on the Inc. list have remained actively involved with the businesses in which they invest.

Chris Cathcart, Managing Partner at Halifax, said, “We are honored to be recognized again by Inc. This award speaks to the trust and respect we are grateful to have earned from our entrepreneur partners. Halifax is proud to help founders build their legacies by supporting growth at their companies and positioning businesses for the future.”

Halifax has invested more than $750 million in 19 founder- and family-owned companies since the firm was founded in 1999. The firm invests in companies across Health & Wellness, Outsourced Services, and Franchising.

“It has been a complicated few years for growth companies and the companies that fund them,” said Mike Hofman, editor-in-chief of Inc. “So we are happy to share with our readers the best, latest guidance on which venture capital firms, private equity firms, and growth-capital lenders have the track record and reputation of being especially good partners to founders and CEOs.”

The Inc. 2024 Founder Friendly Investors award is given to investors who back founder-led businesses and help them thrive. Winning firms are selected based upon their track record, reputation, leadership and founder references. For investments to qualify, portfolio company founders must have remained actively involved in their business for at least one-year post-investment. Halifax submitted stories of founder-led investments and our value creation and paid a fee to Inc. for submitting an entry. Inc. compiled its list by directly surveying founders who have sold to private equity and venture capital firms and worked with lenders. Inc. then examined data on portfolio company growth during those partnerships. This award is not to be construed as indicative of future performance. To see the complete list, go to: https://www.inc.com/founder-friendly-investors/2024. 

About Halifax Group
Founded in 1999, Halifax Group is a private equity firm that partners with managers and entrepreneurs to recapitalize and invest in lower middle-market businesses with total enterprise values generally between $50 million and $300 million. Halifax specializes in equity recapitalizations, corporate carve-outs, and management buyouts and invests across a variety of industries, including health and wellness, outsourced business services, and franchising. The firm is headquartered in Washington, D.C. and maintains an office in Raleigh, NC. For more information, please visit www.thehalifaxgroup.com.

Contact:
Lambert by LLYC
Caroline Luz
(203) 570-6462
[email protected]

SOURCE Halifax Group

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SINGAPORE, Oct. 29, 2024 — TripFactory, a leading global travel platform with a strong presence in India, has raised USD 50 million in Series A funding from a prominent International Corporate Group headquartered in India. This investment values the company at half a billion dollars.

Founded by Vinay Gupta and a team of seasoned entrepreneurs, including Amit Aggarwal, Varun Gupta, Deepak Khurana, Ankit Agarwal, Ankush Agarwal, Ali Asger Lightwala, and Ahmed Khan, TripFactory has rapidly expanded its global operations post COVID-19. With a presence in over 110 countries, the Singapore-based company partners with travel agents and industry stakeholders to offer customised vacation packages through its advanced platform. Consumers can book their dream holidays via the TripFactory website (www.tripfactory.com) or seek personalized vacation planning from the company’s experts.

TripFactory’s innovative platform seamlessly integrates on-ground logistics and service delivery, ensuring an exceptional travel experience for its customers.

“We are excited to invest in and collaborate with TripFactory as they continue to revolutionize leisure travel on a global scale,” said the corporate investors. “With their dynamic team, ambitious vision, and strong values, TripFactory is well-positioned as an industry leader with the proven capability to build and scale a profitable global business.”

As post-pandemic demand for vacations surges, India has emerged as one of the leading source markets for international travel. TripFactory is at the forefront of meeting this growing demand with a unique value proposition.

“This investment reinforces our commitment to becoming the world’s largest vacation business,” said Vinay Gupta, Founder & CEO of TripFactory. “It will allow us to expand our market presence, diversify our product offerings, and elevate customer experiences in both existing and new markets. We remain focused on enhancing our platform’s quality of service.”

Other notable new shareholders who joined the captable in this funding round include Vani Kola, Mohandas Pai, and Ranjan Pai.

About TripFactory:

Headquartered in Singapore, TripFactory is a global leader in customized vacation planning and seamless travel experiences. Founded in 2014, the company collaborates with channel partners across 110 countries and 1,700 cities, offering vacation packages in 32,000 cities worldwide. With over 800 employees in 62 countries, TripFactory is committed to delivering top-notch service to travelers. To date, the company has served customers from over 94 nationalities.

For more information, visit www.tripfactory.com.

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Data-driven music platform has raised over $235M in just over two years and is now introducing the first-ever asset-backed securitization (ABS) transaction backed by indie artists’ music  

NEW YORK, Oct. 29, 2024 — Duetti, a music platform democratizing catalog monetization for independent artists, today announced it has raised $114 million in new funding. This includes $34 million in equity financing led by Flexpoint Ford, along with participation from existing investors Nyca Partners and Viola Ventures. Additionally, Duetti successfully completed its inaugural $80 million privately rated asset-backed securitization (ABS) transaction, backed by a highly diversified music rights catalog. Barclays acted as the sole structuring and placement agent for the ABS.

“We believe we are leading the way in educating the capital markets on the significant long-term value of the independent music sector,” said Lior Tibon, CEO and Co-Founder of Duetti. “The number of independent artists is growing at an unprecedented rate, and Duetti is here to ensure they have access to differentiated financing solutions. Duetti will now be able to utilize more diverse and efficient financing sources, enabling us to significantly expand and offer more funding options for independent artists, outside of the major label ecosystem.”  

The company aims to use the proceeds from its new funding to accelerate its acquisition of music catalogs and expand its proprietary forecasting, pricing, sourcing, and marketing technology, offering artists even better data-driven deals with fast turnarounds and impactful catalog management. Duetti is rapidly developing marketing and optimization capabilities, with programs such as a playlist network of close to two million followers on Spotify, proprietary channels on YouTube, as well as ongoing remix launches and sync placements in TV shows, films and advertisements. These initiatives increase the visibility of Duetti’s artist partners and grow their audience across all major digital platforms. 

“We are proud to support the Duetti team, one of the fastest growing music rights companies in recent years, and their innovative approach to music financing as they continue to empower independent artists,” said Mike Morris, Managing Director at Flexpoint Ford. “We see tremendous potential in their ability to provide scalable, data-backed solutions that address the evolving needs of musicians today and are looking forward to the company’s exciting growth plans.” 

Flexpoint is a private equity firm focused on the financial services and healthcare sectors, offering tailored and flexible capital solutions to its partner companies. The investment was made through Flexpoint’s Asset Opportunity Fund, which leverages the firm’s expertise in financial services and private equity to invest in opportunistic asset-driven investments across financial services subsectors and assets, including music.

Duetti has partnered with over 500 artists to date across genres, based in over 30 countries, including MC Delux, SadBoyProlific, and Savannah Dexter. Artists have been able to secure immediate access to the funds needed to support their careers by selling master catalogs, individual tracks, or portions thereof, in deals typically ranging from $10,000 to $3 million per artist. In addition to immediate access to capital, the company’s optimization services have helped artists maximize distribution and audience impact across all platforms, driving significant increases in streams and visibility.

“Duetti has completely changed the game for me as an independent artist,” said FTO Sett, Memphis-based rapper and Duetti Artist Partner. “Not only has my partnership with Duetti allowed me to fund new projects, but the team is also optimizing my profile across streaming services to help reach a brand new audience and bring new opportunities to the table – some of my tracks saw 3x increase in streams since I partnered with Duetti. It’s hard to find a company that feels like a true partner, but Duetti has been just that for me.”

Artists with tracks that have been on streaming platforms for at least 2 years, and have garnered at least 500,000 streams in the last 12 months can learn more about master sale opportunities on Duetti.co.

About Duetti  

Duetti was founded by Lior Tibon, former COO of TIDAL, and Christopher Nolte, former Business Development executive at Apple Music, with the mission of getting a wide range of artists quick and easy access to catalog sales and unlocking new investment opportunities. Leveraging their experience in streaming and support from innovative music and technology investors including Flexpoint Ford, Nyca Partners, Viola Ventures, and Roc Nation, Duetti’s music platform has helped over 500 artists receive up to $3 million per transaction. The proprietary model provides data-driven prices for established tracks, allowing artists to sell individual tracks or even parts thereof, while Duetti then markets those tracks going forward using proprietary ROI-focused techniques.

About Flexpoint Ford 

Flexpoint Ford is a private equity investment firm that has approximately $8.3 billion of regulatory assets under management and specializes in privately negotiated investments in the financial services and healthcare industries. Since the firm’s formation in 2005, Flexpoint Ford has completed investments across a broad range of investment sizes, structures, and asset classes. Flexpoint Ford has offices in Chicago, Illinois, and New York, New York.

SOURCE Duetti

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The new investment follows the recent launch of the industry’s first Unified Secrets & Machine Identity Platform to address the #1 cause of breaches

NEW YORK and TEL AVIV, Israel, Oct. 29, 2024 — Akeyless, an innovator in the identity security market, announced today a strategic investment from Deutsche Bank’s Corporate Venture Capital (CVC) group.

Trusted by Fortune 100 companies and industry leaders, Akeyless is redefining identity security for the modern enterprise, delivering the world’s first unified Secrets & Machine Identity platform designed to prevent the #1 cause of breaches: compromised identities and secrets.

Identity is now the leading threat vector and the weakest link in enterprise security strategies. In today’s modern multi-cloud environments, non-human identities of machines – like applications, automated processes and scripts – far outweigh human identities. These machines use secrets like credentials, certificates, and keys to securely communicate with each other. The reality in enterprises today is that it takes multiple tools across many categories and vendors to effectively and efficiently manage secrets and machine identities.

“According to data we compiled, enterprises are using more than 12 tools across 15 categories and 75 vendors for secrets and machine identity management. This not only increases cost and complexity but also weakens the enterprise security posture,” said Oded Hareven, Co-founder and CEO of Akeyless Security. “The strategic investment from Deutsche Bank will accelerate our mission to prevent breaches by empowering enterprises with enhanced control, visibility, and security for efficient management of their secrets and machine identities.”

“We welcome Akeyless as the latest addition to Deutsche Bank’s CVC portfolio,” said Joerg Landsch, Head of Central Corporate Venture Capital, Deutsche Bank. “Our focus is on strategic corporate venture capital investments in startups that use technology to either support and enable innovative services, or increase productivity of processes. We commit capital, expertise, access and resources to our strategic investments to enable growth and success.”

This collaboration marks a critical milestone for Akeyless and reflects Deutsche Bank’s commitment to support high growth startups addressing today’s emerging cybersecurity challenges.

For more information on how Akeyless is securing the future of secrets and machine identity management, visit Akeyless.io. 

About Akeyless

Trusted by Fortune 100 companies and industry leaders, Akeyless is redefining identity security for the modern enterprise, delivering the world’s first unified Secrets & Machine Identity platform designed to prevent the #1 cause of breaches – compromised identities and secrets. Backed by the world’s leading cybersecurity investors and global financial institutions including JVP, Team8, NGP Capital and Deutsche Bank, Akeyless Security delivers a cloud-native SaaS platform that integrates Vaultless Secrets Management with Certificate Lifecycle Management, Next Gen Privileged Access Management (Secure Remote Access), Encryption and Key Management Services (KMS) to manage the lifecycle of all non-human identities and secrets across all environments.

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SOURCE Akeyless

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The PayFac-as-a-Service startup has now raised nearly $40M in five years, while also expanding services throughout the United States and Canada

BOULDER, Colo., Oct. 29, 2024 — Tilled, the Boulder-based start-up that pioneered PayFac-as-a-Service to help software companies realize the full benefit of embedded payments, today announced a $12.5 million fundraising round led by Canvas Ventures and UPC Capital Ventures. Tilled is also announcing a new partnership with Handpoint to expand its card-present offerings, including dozens of terminal options available in the United States and Canada.

“Over the past year, Tilled has been honored to partner with some of the most prominent organizations in payments, delivering our turnkey PayFac-as-a-Service solution under their brands to elevate their customer offerings,” says Caleb Avery, CEO and Founder of Tilled. “Building on the momentum of our exciting partnership with North announced this week, this new funding empowers us to double down on our mission. We’ll be expanding our collaborations with leading payment companies worldwide to create innovative programs that seamlessly integrate Tilled’s cutting-edge technology with our partners’ vast distribution channels. 
Together, we’re setting a new standard in the payments industry.”

The latest round of funding brings Tilled’s total amount raised to nearly $40 million since its founding in 2019. In addition to expanding its product roadmap, Tilled also plans to use the funds to scale up sales and marketing to support its explosive growth — currently experiencing 550%+ YoY revenue growth. 

“Handpoint is a seamless partner for the Tilled platform. From streamlined activation processes, to real-time data APIs, to solutions that fit every ISV platform, Handpoint is built for the omni-PayFac experience that Tilled customers expect,” says Jody Muehlegger, COO of Handpoint. “We are excited to work with them to expand their card-present services here and abroad.”

Tilled’s partnership with Handpoint will bring many new terminal options to customers in both the United States and Canada. All of these devices are available to process semi-integrated transactions through a single API connection at Tilled.

“I’ve been a part of the Tilled journey since Day 0, and to see major partnerships including North, Handpoint, and others coming to the table to join us is incredibly rewarding,” says John Wallington, co-founder and Managing Partner at UPC Capital Ventures — to be read in your best British accent. “In a short time, Tilled has become the leading provider in the PayFac-as-a-Service category — a category it created. I’m excited to see how its growth will continue to benefit the payments industry.”

About Tilled

Tilled offers an embedded payments solution through PayFac-as-a-Service, enabling software companies to accelerate their time to market, unlock new revenue opportunities, and provide superior value to their customers by creating an embedded payments experience that is delightful, transparent, profitable, and incredibly simple. Designed with flexibility, customization, and developers in mind, Tilled’s easy-to-integrate APIs and SDKs provide everything software companies need to launch a white-label payments experience without the complexity, cost, or compliance burdens of becoming a fully registered PayFac.

Founded in 2019 by Caleb Avery and based in Boulder, Colorado, Tilled offers seamless embedded payment experiences. For information on pricing, contact details, and career opportunities, visit www.tilled.com.

About Handpoint

More than 80% of all card transactions are still made in person. In a landscape dominated by legacy systems, Handpoint provides the modern, API-driven platform that Payment Facilitators (PayFacs), Payment Acquirers, and PFaaS / embedded payments providers need to succeed. Handpoint’s developer-friendly approach, complete with advanced SDKs and APIs, ensures seamless integrations for software solutions, allowing embedded payments providers to unlock the in-person payments potential for both SMBs and enterprise clients. Handpoint’s agile and innovative cloud platform enables embedded payments providers on three continents to launch card present instantly, in their brand, embedded with their tech stack, and with the processors of their choice. For information, visit www.handpoint.com.

SOURCE Tilled

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