Checkbook Gets $10 Million Series A Check

SAN MATEO &&num;8212&semi; Checkbook Inc&period; has closed &dollar;10 million in Series A funding led by MassMutual Ventures&period; IA Capital, JPMorgan Chase and Cross River Digital Ventures are also participating in the round along with previous other investors&period;&NewLine;Checkbook was founded in 2015, when CEO and founder PJ Gupta recognized a 100-year old problem no one was solving – the hassle of using paper checks and collecting sensitive routing or account information to send zero-fee payments&period; In the U&period;S&period; alone, almost 14 billion checks were sent and &dollar;19 trillion in funds were transferred in 2019&period; Checkbook built a solution that not only solves for the inefficiencies of paper checks, but the push payments platform also provides a flexible way to transmit funds in real-time – there’s no need for recipients to sign up for any service or download any app&period;&NewLine;The intuitive platform provides businesses with solutions that fit their needs whether it’s pushing a payment directly to their recipient’s bank or sending them a virtual card, allowing senders to earn money with every payment&period; The payments can be sent online without requiring recipient’s ACH info, thereby completing the last mile of payments with ease&period;&NewLine;&OpenCurlyDoubleQuote;Our mission is to solve the challenges of push payments by building a payouts platform for the digital age&period; By building a seamless online recipient experience we’re completing the last mile of payments&period; We want to become the ubiquitous solution for enterprises and consumers everywhere, offering the only one-sided Digital Payment solution,” said Gupta&period; &OpenCurlyDoubleQuote;We look forward to working with our investors to continue leading the way in the &OpenCurlyQuote;last mile’ of push payments&period;”&NewLine;&OpenCurlyDoubleQuote;We’re excited to support Checkbook as it transforms and simplifies how enterprises and consumers send and receive payments, increasing efficiency and security with a Digital Payment solution that can be deposited instantly,” said Charles Svirk, Principal at MassMutual Ventures&period; &OpenCurlyDoubleQuote;Checkbook has the potential to become the go to solution for push payments with its ability to cost-effectively enable businesses to send and receive payments at scale and track data in real-time online&period;”&NewLine;

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