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Payments General

Recurring payments provider ClickSwitch receives USD 13 mln funding

Friday 17 May 2019 | 08:05 AM CET

US-based recurring payments solution provider ClickSwitch has raised USD 13 million in a Series B financing led by Commerce Ventures and Point72 Ventures.

This round of financing is meant to accelerate ClickSwitch product roadmap, expand executive leadership, and increase headcount within software development and sales teams, amongst other marketing plans for growth. ClickSwitch has solved a problem for consumers and financial services providers by enabling users to redirect their pay cheque to a new bank, improving customer economics.

Headquartered in Minneapolis, ClickSwitch provides a white-label banking solution to financial institutions, allowing customers to switch direct deposits and recurring payments easily and automatically. ClickSwitch representatives have stated that, since closing Series A, they have gained fast momentum with the client base, prospects and emerging fintechs looking to capture PFI status with their account holders.

More: Link
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