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Relay Payments Invests in Building a Values-Driven, People-Focused Culture, Spearheaded by Chief People Officer, Amy Zimmerman
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Relay Payments Invests in Building a Values-Driven, People-Focused Culture, Spearheaded by Chief People Officer, Amy Zimmerman
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Software startup looks to automate cargo unloading fee payments
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Relay Payments, an electronic payment platform for logistics companies, has raised $43 million over the last six months as it seeks to digitize an industry that has long relied on checks and cash.
Addition, a $1.3 billion fund that invests in early- and growth-stage companies, led the Series A and Series B funding rounds, with participation from investment firms Ribbit Capital and Spark Capital.
Relay works with players across the supply chain shippers, brokers, carriers, drivers and warehouses to provide a more efficient end-to-end electronic solution, co-founder and CEO Ryan Droege told FreightWaves.
Existing paper- and phone-based processes are time consuming and error prone, he noted. Fleet managers have to manage all the payments drivers make while on the road, with the driver in many cases paying with fleet checks or cash requiring reimbursement.
Instant Digital Payments Network for Logistics, Relay Payments, Secures $35.3 Million in Capital
December 12, 2020 @ 8:00 pm By Omar Faridi
Relay Payments recently secured $35.3 million in capital from nine investors according to a Form D filing with the US Securities and Exchange Commission (SEC).
The Atlanta-headquartered Fintech firm (located at The Battery Atlanta) offers an end-to-end instant digital payments platform for logistics firms and has been operating quietly or mostly under the radar during the two years since its launch.
As first reported by Biz Journals, the Fintech firm had also acquired $7.7 million in funding back in July 2020, according to an SEC filing (also confirmed by PitchBook data and Crunchbase).