Capital raise nets $26m for Chesterfield payment software firm

By Mike Platania | Richmond BizSense

Paymerang, a Chesterfield-based financial technology firm, this week announced the closing of a $26 million fundraising round.

Founded in 2010, Paymerang offers a software platform through which businesses can electronically and securely pay vendors. CEO Nasser Chanda said the new funds would be used to grow its product development and technology staff and increase its sales and marketing footprint.

Paymerang isn’t the only local payments company to recently catch the eye of investors. Blueswipe, a point-of-sale payment-processing startup, closed on a $450,000 capital raise last summer. It also is preparing to move its headquarters to the HandCraft building in Scott’s Addition.

Read the full story here.