As we plunge deeper into the pandemic, online transactions have become increasingly important, and ACH transactions, the ones that help us get direct deposit of our paychecks or pay our bills are growing ever more essential. Nivelo, an early stage startup from a former JP Morgan executive wants to take the risk out of ACH transactions and today the company announced a $2.5 million seed investment, which closed in mid-August.
FirstMark, Barclays and Anthemis led the round with help from Dash Fund and several individual investors. While the company was announcing its first funding, it also launched a private beta of a Risk Scoring API for payments.
Company co-founder Eli Polanco says that ACH payments are a huge business, but mostly haven’t been updated for