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.
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.
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.