GrailPay Secures $6.7M in Funding for Risk and Data Platform for Bank Payments
GrailPay, a New York City-based company specializing in risk and data solutions for bank payments, has successfully raised $6.7 million in funding. This funding round was led by Construct Capital, with participation from Commerce Ventures, Broadhaven Ventures, Soma Capital, Grasshopper Bank, and a group of experienced fintech professionals and investors.
Expansion Plans and New Capabilities
The infusion of capital will enable GrailPay to expand its product and engineering teams, enhance its go-to-market strategies, and introduce new capabilities to the market. CEO Will Messina leads the company, which offers a risk platform for bank payments and serves as an ACH payment processor, providing essential infrastructure for fintech companies and financial institutions to facilitate secure and efficient money transfers.
Growth Trajectory
With a client base of over 10,000 businesses, GrailPay is focused on helping its customers secure bank payments against fraud and operational risks, ultimately accelerating the payment process. This funding round follows an initial raise led by Noemis Ventures, highlighting the company’s continued growth and market traction in the fintech industry.
