Capital will be used to accelerate the company’s growth and go-to-market activities while also adding to Authvia’s technology lead in the text to pay market
El Segundo, CA, April 28, 2022 – Pay2Day Solutions, Inc. (Authvia) announced today that it has closed $7 million Series A financing led by Red Door Capital Partners (Red Door), an independent private equity firm. This financing is already being used to accelerate Authvia’s partner channels and overall sales and marketing efforts. Authvia’s patented text-to-pay solution (“TXT2PAY®”) enables businesses to request and receive payments via text and other digital messaging channels; accelerating cash flow, eliminating PCI risk, and safeguarding data, while providing a seamless mobile payment experience.
Enterprises and ISV´s looking to implement Authvia’s solutions can access TXT2PAY through modern APIs, Authvia Portal, Authvia for Salesforce and/or connect their own payment and messaging partners, using any of the over 200 certified payment processors, gateways, SMS and messaging providers in the Authvia network. Authvia’s proprietary multi-processor, multi-merchant wallet technology stores and encrypts credit, debit, and ACH credentials allowing consumers to pay with a simple text response any time they receive an invoice or payment request.
“Our goal is to innovate and provide the most compelling conversational commerce experience in the market today, for merchants and consumers alike,” shared Chris Brunner, Founder and CEO, Authvia. “We are thrilled to have closed this round of Series A funding led by Red Door as it has enabled us to expand our market reach and grow our team, quadrupling our sales and marketing efforts. We have also been able to exponentially grow our pipeline, allowing us to move forward with our mission as the leader in the next generation of payments and messaging technology.”
Richard Wolpow, Managing Partner at Red Door, stated, “Not only did we understand the value of Authvia’s innovative technology, we saw the clear mission and significant growth opportunity in front of us.”
“Technology is rapidly changing how we conduct business daily, and in Authvia’s patented text-to-pay solutions, we saw an opportunity to be a proactive part of that change while supporting the drastically increased demand for this type of technology,” Wolpow added. “We are very excited about the significant growth and development opportunities this funding will not only provide to Authvia, but how it will fundamentally shape the way payments-at-large are transacted for the foreseeable future.”
“Our team is both passionate and dedicated to executing on our mission, and I am thankful to be surrounded by such a talented group of people that show up every day with a ‘future is now’ mindset. With an incredible team at the helm, patented technology, and surging market demand, I believe we are well positioned for explosive growth.” Brunner concluded.
Authvia is an innovative, Los Angeles-based SaaS company at the forefront of Conversational Commerce with patented text-to-pay technology. That technology includes the flagship software application TXT2PAY®, which delivers a highly secure, fast, and contactless payment option via text messaging and other message-based communication channels, such as chat or What’s App. Authvia connects a business, consumer, and payment processor quickly and easily, expediting cash flow and streamlining payment processes. For more information visit authvia.com.
About Red Door Capital Partners, LLC The Red Door team is a group of seasoned entrepreneurial experts from private equity operations, Investments & wealth management, and legal services, that have joined together to identify, invest in, and manage private equity transactions. Red Door invests side-by-side along with its network of High-Net-Worth Investors, Family Offices and Registered Investment Advisors (RIA’s). Red Door partners with founders and entrepreneurs that seek real capital partners to create collaborative relationships, deploy strategic oversight, implement governance, and professionalize operations – all to ensure our family of investors are protected and are prepared for a successful exit transaction. In some instances, Red Door along with its Investor Network, pre-positions itself by providing a bridge loan or other investment structure to an investment target. This provides Red Door with discounted valuations, exclusivity for future funding, allowing the company to continue performing on its goals prior to a permanent financing, reducing investors risk and shorten investment time horizons. For more information on Red Door visit www.reddoorcp.com.