Verituity raised $18.8 million to support the growth of its B2B and B2C verified payments platform.
The mentioned company intends to use the new funding to continue developing machine learning models and artificial intelligence configurations. In this case, it means digital products that power the functioning of the verified payout platform. The relevant information is contained in the Verituity press release, which was published on Friday, June 21.
The new investments are expected to accelerate the company’s growth in the banking and insurance sectors. The company also intends to use some of these funds to enter new markets, including mortgage servicing and energy.
Ben Turner, CEO of Verituity, says that the firm orchestrates billions of dollars worth of verified B2B and B2C payouts. The brand provides companies and banks with the opportunity to make trusted and intelligent payments to well-known individuals and businesses.
In a press release, the firm notes that its platform knows and verifies each payer, payee, account, and financial operation. This platform also adds intelligence to every disbursement.
The press release notes that the functional Verituity system minimizes risks, optimizes the economy of payments, and ensures that the digital payments are on time.
The latest round of financing for the company was led by Sandbox Industries and Forgepoint Capital.
Chris Zock, managing partner and co-CEO at Sandbox Industries, says that Verituity’s unique approach to implementing verification in payments and solving the complex tasks of connecting legacy treasury systems to digital payments is transformative for the industry.
As we have reported earlier, Mexican Fintech Platform Clip Raises $100 Million.
