Orum raises $21M through Series A Capital

Orum raises $21M through Series A Capital.

Orum, an NYC-based technology platform that provides financial infrastructure, has raised $21 million in Series A financing.

It was initiated by Bain Capital Ventures, with participation from former investors Inspired Capital, Homebrew, Acrew, Primary, and Clocktower, along with Box Group and new investors SVB Capital and American Express Ventures.

Also Read: Beacon Closes $56 M in Series C Funding Round D By WARBURG PINCUS

Orum raises $21M through Series A Capital

Orum’s advisory and angel investors include more than 30 industry top executives such as Michael Vaughan (former COO at Venmo), Bobby Mehta (former CEO at TransUnion), Omri Dahan (former Chief Revenue Officer, Marqeta), Justin Overdorff (former Stripe, Investments & Acquisitions), Marc Bhargava, (Strategy, Coinbase), Charley Ma (GM Fintech, Alloy), and Roli Saxena (former Chief Customer Officer, Brex).

The Company plans to use the funds to boost the recruitment of machine learning, data engineering, and data science experts and grow its partnerships teams.

Also Read: SoftBank Vision Fund 2 invests $160 million in a media localization company Iyuno-SDI Group

Led by Stephany Kirkpatrick, Founder and CEO, Orum provides embeddable financial-infrastructure products bringing smart, real-time and fully automated money movement to enterprises across verticals. Motion, an API-enabled service that permits money movement across multiple rails while optimizing speed, cost, and risk, builds on Orum’s initial product, Foresight, which utilizes exclusive technology to anticipate ACH return risk before it takes place.

Initial customers comprise large financial services companies like First Horizon Bank and fintech of the future, such as One or Alloy.

Chris Evan was born in Dubai and raised in Montreal. He studied Computer Science and was so pleased with computer languages. He began writing after obsessing over technology.

Leave a Reply

Your email address will not be published. Required fields are marked *