New York-based mobile payments company Extend has secured $11 million in Series A funding, according to company database Crunchbase, topping the city’s recent funding headlines. The cash infusion was announced April 10 and led by FinTech Collective.
According to its Crunchbase profile, "Extend is an innovative digital credit card distribution platform for banks, fintechs, businesses and their customers, that redefines how credit cards are issued. A certified Visa and MasterCard partner, Extend seamlessly integrates with legacy bank issuing systems to enable modern virtual credit card features and distribution capabilities."
The two-year-old startup also raised a $3 million seed round in 2018.
The round brings total funding raised by New York companies in software over the past month to $343 million, an increase of $14 million from the month before. The local software industry has seen 500 funding rounds over the past year, securing a total of $7.7 billion in venture funding.
In other local funding news, banking and payments company Boost Payment Solutions announced a $5 million debt financing funding round on April 5.
According to Crunchbase, "Boost Payment Solutions is a leading B2B acquirer providing organizations with ground-breaking solutions and technology to optimize commercial card payments and acceptance, making the migration of paper-based payments to electronic alternatives easy and seamless. Boost Intercept, the company’s innovative payment platform, streamlines commercial card payments by eliminating the need for suppliers to manually process transactions or access card data, expediting reconciliation and reducing the cost of acceptance."
Founded in 2009, the company has raised two previous rounds, including a Series A round in 2017.
Meanwhile, ShoeKonnect raised $866,564 in funding, announced on April 10. The round was financed by Info Edge.
From the company's Crunchbase profile, "ShoeKonnect is a B2B commerce mobile application designed specifically to cater to the needs of the footwear industry. ShoeKonnect helps footwear enterprises to connect and communicate with each other and expand their business."
ShoeKonnect last raised $409,168 in funding in 2018.
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