Aspire Fund Management recently became the largest investor in a new round of series A funding for a US-based tech company known as ePayRails.
It invested US$2 million alongside a consortium of private investors who seeded an additional $450,000.
According to a media release, the Port-of-Spain based, KCL Capital Market Brokers Ltd served as placement agent for this investment opportunity, which now also provides an opportunity for Caribbean ownership of a burgeoning payment solution and its founding agency registered as ePayRails.
ePayRails was founded in January 2018 in Jacksonville, Florida, USA, with a vision to make payments smarter and faster. ePayRails is a next-generation payments hub that integrates with existing accounting and ERP systems and enables seamless reconciliation for both the customer and vendor via a data-rich, secure B2B (business to business) payments hub.
“We are excited to expand our reach and portfolio profile through our investment in ePayRails,” said Aspire’s managing director, Kerwyn Valley.
“We believe in the management team and have observed that their unique approach to solving the complexities of B2B commerce gives them a distinct advantage in comparison to other legacy systems and firms in the current marketplace. ePayRails is taking a dynamic, long-term approach to addressing specific issues all organisations face with respect to cash management in real time and across the physical and digital landscape.”
The media release said Aspire Fund Management was founded in 2014 by financial leaders and successful entrepreneurs of Caribbean heritage.
The company was designed to bridge the gap between innovative entrepreneurs needing capital and investors looking to intelligently fund worthy businesses.