“PayFac-as-a-Service startup Tilled today announced the close of $11 million in Series A funding to empower software companies to monetize the payments flowing through their platforms. With Tilled, software companies in the United States and Canada can begin to profit from the millions or billions of dollars in payments they are processing each year, with no startup costs or additional overhead, in just a matter of weeks…Traditionally, software companies have few choices for processing payments on their platforms. Many start out with managed PayFac providers like Stripe, Square and Braintree, who offer easy-to-use APIs and instant onboarding, but at a high cost of 2.9 percent and 30 cents per transaction with no opportunity to benefit from those payments. As software companies grow and realize they could be profiting from those payments, their only options are to work with expensive PayFac-in-a-Box providers that can take months or even years to set up, or to sacrifice their customer experience with traditional credit card processing referral relationships.”

“Infinicept today announced a new funding round led by Mastercard and MissionOG, which will help the company accelerate growth and adoption for its flexible payments infrastructure platform. Infinicept has more than 250 software, banking and fintech customers in 25 countries, and yearly payments volume has increased 800 percent as more companies embed payment services to grow their revenues and enhance customer experience.”