Temerity Capital Partners leads investment to bolster growth of DigitalPay, the largest and most diverse payout partner network of any payment provider.
February 12, 2020—San Francisco, Calif. DigitalPay, a premier digital payment provider for businesses to consumers, announced today a strategic round of seed funding of $1.2 million, led by Temerity Capital Partners, Fenway Summer Ventures and Leranax LP. Funding will serve DigitalPay’s high growth agenda and be utilized to increase sales efforts, add staff, optimize market-leading features, and augment new and differentiated international payment options.
“When you see the growth of the global payout market entering in the trillions of dollars, DigitalPay is at the right place, with the right technology, at the right time,” said Andy Sandler, DigitalPay chairman and CEO of Temerity Capital Partners. “Our continued investment in DigitalPay reflects our confidence and enthusiasm that the company leads the disruption needed in the fintech payouts space.”
DigitalPay has the largest set of payment endpoint options currently available in the marketplace, offering unprecedented choice in payout options. DigitalPay provides security, speed, and convenience through fully-trackable payments to desktop or mobile devices within seconds, with no app downloads or onboarding needed.
“We are excited to secure additional funding from our return investors. Their investments help us to accelerate our growth at a time of unprecedented demand in this rapidly-growing payouts market,” said Chris Whipps, CEO of DigitalPay. “The industries we’ve gained traction with are experiencing powerful business and brand experience benefits as a result of the speed and choice they are offering their patrons through using our platform. Their success is showing us what DigitalPay already knew: Payments can no longer sit on paper. They have to be digital.”
DigitalPay primarily services the travel, legal services administrator, consumer rebate, and gig economy (large independent contractor business) verticals. Services to these verticals include rebates, refunds, litigation settlements, and other one-time payments through digital debit cards, PayPal, Amazon, direct debit to bank, and more than 250 premium retailer options.