Amaryllis Payment Solutions announced today it has completed a $10 million Series B round of financing with FINTOP Capital and partner, JAM FINTOP, an investment fund designed to help develop and accelerate technology adoption at community banks across the United States. The funds will accelerate product development and expand its marketing and sales efforts.
Amaryllis provides a Payment Facilitation platform for financial institutions, software & SaaS companies, so they can better monetize the payments flowing through their service and boost their revenue and business valuation. With Amaryllis, they can get all the payment facilitation tools in one platform, so they don’t need to hire an expensive tech team, or patch multiple vendors together, which means they can go to market faster.
From merchant underwriting, payment acceptance, split fees, white-labeled partner portal, flexible payouts, and risk management – Amaryllis clients can quickly underwrite and onboard merchants, start processing payments, and rest easy knowing everything is in compliance with AML, KYC, and the card network rules, so they can get approved Payment Facilitators, even if they are starting from scratch.
“Software led payments is one of the most attractive verticals in the market,” said Ori Hay, Co-Founder and CEO of Amaryllis. “When we started Amaryllis, we embarked on a journey to create the best payment platform so financial institutions can easily enhance and modernize their legacy infrastructure to adjust to the ever-changing payments landscape and requirements. Today marks a major milestone in our journey to reach that goal. We are grateful to our partners at FINTOP capital and JAM FINTOP that share our passion for the payments space, and excited to continue to innovate and deliver solutions that make payment facilitation simple.”
“Amaryllis redefines the intersection of financial institutions, payments, and software,” said Joe Maxwell, managing partner at FINTOP Capital. “Our partners network and expertise make this investment a great fit for FINTOP and we are excited to help scale Amaryllis vision to simplify complex payment models.”
Founded by payment industry veterans who noticed a pattern in the market where companies kept building the same payment system in-house over and over again, so they set out to build the best payment technology stack so others will not have to reinvent the payments wheel.
Today, Amaryllis provides a Payment Facilitation Platform that is flexible, customizable, and designed for growth, so that financial institutions, software & SaaS companies can effortlessly go from kickoff to handoff and let Amaryllis platform do all the heavy lifting. To learn more, visit www.amaryllispay.com
About FINTOP Capital
FINTOP Capital is a venture capital firm focused on Financial Technology (FinTech) companies with offices in Nashville, Tenn., St. Louis, Mo., and New Jersey. Run by financial leaders and operators who have built successful startups themselves, the firm understands the ups and downs of the startup world. The firm brings strong networks, experience, and capital to entrepreneurs building B2B service-enabled SaaS and software companies in the FinTech space. To learn more, visit www.fintopcapital.com or follow @fintopcap on Instagram and LinkedIn.
About JAM FINTOP
JAM FINTOP is a joint venture between JAM Special Opportunity Ventures (“JSOV”), an affiliate of Jacobs Asset Management (“JAM”), and FINTOP Capital. The partnership brings together bank experts and seasoned fintech entrepreneurs to invest in companies changing the way financial institutions and their customers move, track, and interact with money. JAM has a 26-year history investing in public and private community banks. For more information, visit www.jamfintop.com.
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