Gr4vy, the leading cloud-native payments orchestration company, today announced the closing of a $15 million Series A expansion funding, led by March Capital, a venture capital firm from known for investing in companies poised for hyper-growth globally, with participation from Nyca Partners, Activant Capital and Plug and Play Ventures. The recent round brings Gr4vy’s total funding to $27.2 million. Since launching in April, the company has nearly doubled its valuation, reflecting its strong growth and demonstrated value to merchants around the world. The additional revenue will further accelerate Gr4vy’s global expansion to meet increased market demand and support its product roadmap for its cloud-native payment orchestration (POP) platform.
McKinsey predicts that by 2025, global payments revenue will reach approximately $2.5 billion and that by 2024, e-commerce retail sales are expected to account for 21.8% of all retail sales worldwide . Merchants looking to capture market share need a POP that offers payment infrastructure and the ability to scale.
“The global growth of various payment methods and processors has driven merchants to build an increasingly complex and highly inflexible payments infrastructure when it comes to the fintech and payments market,” said John Lunn, Founder and CEO of Gr4vy. “Payment orchestration shouldn’t be too complicated. Our cloud-native POP provides a modern payment infrastructure and enables merchants to scale and manage no-code/low-code payment methods, services and transactions with just a few clicks. As we continue to optimize merchant payment stacks and deliver new products and services, we are honored to have the support of such trusted names in venture capital, such as March Capital.
“Digital payment methods now come in more forms than ever before, making merchants feel overwhelmed. There are BNPL providers, credit cards, account-to-account services, crypto and a wide range of local payment solutions – all of which differ by geography and require the integration of engineering teams,” said Solomon Hailu, partner at March Capital. “March is thrilled to partner with John and the Gr4vy team, as they help merchants simplify and manage payment infrastructure through an easy-to-use, cloud-native orchestration platform at a time when e-commerce strategy is mission-critical .”
Gr4vy is redefining the payments industry and payment orchestration by enabling merchants to scale their payment services without months of coding and in just a few clicks. Acting as a middleman between merchant shopping carts and payment providers, Gr4vy’s POP upgrades the payment stack and payment methods for merchants to make them more agile. Centralized reporting, monitoring and management means that all parts of a merchant’s business benefit from a single, streamlined system in one place.
Gr4vy offers instances, which provide merchants with an individualized infrastructure in the cloud, providing the highest level of flexibility to manage payment stacks and scale. Gr4vy can scale these individualized cloud instances from the simplest to the most complex requirements. Merchants can deploy globally and even at the edge to ensure their customers always have the payment solutions and options they need around the world.
“It used to be easy for merchants to set up payment infrastructure, but over the last 10 years it has become insanely complex,” said Hans Morris of Nyca. “Businesses simply want to sell their goods and services, accept the payment that best suits the customer, and minimize their costs and risks. Sounds simple, right? But it’s a nightmare, and since the payments environment keeps changing at breakneck speed, even the world’s largest merchants don’t have the engineering resources to devote to it. That’s why Gr4y is perfect for this moment. And the team that John has assembled is widely respected for its payment expertise and credibility.
After receiving $11.1 million in Series A funding, Gr4vy continued in high growth mode. Notable partnerships with GoCardless, Banked, Akoova, along with the launch of its Gr4vy Magento extension and the successful completion of its PCI1-certified vault, have enabled merchants to meet current and future demands of the payments market and raise payment challenges. Gr4vy continues to attract industry leaders to its team of fintech and payment experts, including Google alumnus Zubin Vandervala as VP and Head of Business Development and Partners, as well than other key recruits from companies such as Adyen, Braintree, PayPal, etc.