The startup offers an online payment platform that integrates with existing enterprise resource planning systems and banking infrastructure to enhance mobile payment transparency and security. By leveraging reliable data, the platform enables businesses to optimize payment processes and improve financial control.
Funding
$78M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Many businesses face challenges in managing payments to suppliers and contractors due to disparate systems and a lack of visibility into payment processes. This can lead to inefficiencies, increased costs, and security risks associated with handling sensitive financial data.
Solution
Velo Payments offers a unified platform designed to automate and streamline business payments, providing enhanced transparency and security. The platform integrates with existing enterprise resource planning (ERP) systems and banking infrastructure, enabling businesses to manage payouts to suppliers and independent workforces through a single interface. Velo captures payment preferences from buyers, vendors, and contract workers, and then automatically executes payments using the optimal method based on cost, speed, and predictability across various domestic and international payment options. By automating these processes, Velo helps businesses optimize their payment workflows, reduce operational overhead, and improve financial control.
Target Audience
Velo Payments primarily targets businesses that need to streamline and automate their payment processes to suppliers and independent contractors.
Features
- Integration with existing ERP systems and banking infrastructure for seamless payment processing
- Automated capture of payment preferences from buyers, vendors, and contract workers
- Intelligent payment routing based on cost, speed, and predictability
- Support for various domestic and international payment methods
- Secure payments platform to protect sensitive financial data
- Unified interface for managing all business payments