Payment Labs, a global FinTech startup specialising in complex payment solutions, has successfully closed a $3.25m seed funding round.
The round was led by Aperture Venture Capital with participation from Capital Eleven, ESPMX, and other investors.
The company, co-founded by Han Park and Ronak Desai, provides a purpose-built SaaS platform designed to handle intricate payment processes across industries such as sports, esports, and the creator economy.
It supports payments in over 150 currencies and across 180+ countries, offering businesses a frictionless, compliant way to manage global payins and payouts.
With the new capital, Payment Labs plans to scale its offerings and team to meet growing demand. The company intends to enhance its automated payment solutions, expand its compliance capabilities, and continue developing customised tools for revenue sharing, royalties, and business services typically underserved by traditional platforms.
Since launching, Payment Labs has processed over $50m in payments for high-profile clients including Microsoft, SEGA, X Games, The Snow League, Arnold Sports, and AVP.
Payment Labs CEO Han Park said, “In esports, I became very familiar with the international nature of competitions, the compliance and regulatory issues that those create, the need to track down at times hundreds of individual payees, and more.
“Those lessons translated directly to Payment Labs’ work in sports and other industries, where we’ve found success in eliminating similar pain points with frictionless solutions. Now, we’re looking forward to expanding those offerings and scaling our team to continue to make payments faster, easier, and compliant.”
Garnet Heraman, general partner of Aperture VC, added: “The Payment Labs leadership team fits our ideal founder profile – which we call Contrarian Technocrat – in terms of their ability to rapidly go from vision to value.
“Together we envision massive upside with evolving industry trends in global sports competitions, NIL, and the creator economy.”
Source: https://fintech.global/
