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SIPREE, INC. CLOSES NEW FUNDING

Sipree / News  / SIPREE, INC. CLOSES NEW FUNDING
18 Jul

SIPREE, INC. CLOSES NEW FUNDING

FinTech Start-Up is Making Enterprise Payouts Pay Off

San Francisco, CA – July 18, 2017 – Sipree, Inc., a financial technology company built for the enterprise, today announced new seed financing. The funding will be used to accelerate growth as Sipree prepares to more than double its team, leverage its next-generation enterprise platform, and scale its growing customer base in new industry segments.

Sipree is solving the biggest remaining challenges in large-scale payments, with an enterprise solution that leverages the best global P2P and electronic networks. With built-in enterprise services like ID verification, fraud mitigation, system-of-record integration, and security controls, Sipree is turning the pain of “irregular” payouts – like claims, commissions, refunds, good-will incentives, and class action settlements – into an opportunity to digitize the end-to-end process and delight customers.

“Our cloud-based platform is changing the way global enterprises and government agencies send and share value with consumers digitally,” said Mark Sole, CEO at Sipree. “We have validated the market need and are now 100% focused on growth and execution. I am thrilled to have an exceptional team, backers, and Board who share our vision and excitement for this huge market opportunity.”

“Having been early investors in Sipree, we are excited to continue to back the Sipree team,” said Alex Acree, Managing Director at Fenway Summer Ventures.  “We believe the Sipree Platform is well-positioned to be a modernizing force in the enterprise tech stack, starting with outgoing payments and moving on to solve other important challenges.”

Previous strategic investors: Fenway Summer Ventures, Temerity Capital Partners, Dave Brown (Former Managing Partner at Oak Hill Venture Partners), and Tim Brinkman (Venture & Private Equity Advisor) participated in the financing, and new investors, including Thomas Brown (Partner, Paul Hastings LLP, former VP & Senior Counsel at Visa USA), David Mahoney (former co-CEO of McKesson HBOC), Cantwell Muckenfuss III (Senior Advisor at Treliant Risk Advisors), and Greg Kidd (Investor in Square, Kabbage, Twitter, and others) have also joined the round. Anil Arora (Vice Chairman and Chief Executive, Envestnet | Yodlee) will also join the advisory board to help chart the next round of growth.

To learn more about Sipree, visit www.sipree.com, or email info@sipree.com for an enterprise demonstration.

 

To learn more about Sipree, the Sipree platform and team, visit www.sipree.com.

About Sipree

Sipree is a financial technology company built for the enterprise, focused first on payments. The Sipree Platform empowers global enterprises with real-time payments that lower operating costs, reduce fraud, and delight recipients with a choice of popular payment networks. Sipree’s SaaS delivery models enable quick deployment with minimal IT resources while leveraging existing systems for full visibility and control. It’s time to transform how enterprise payments are done.

Sipree is based in San Francisco with a Federal office in Washington D.C. Visit us at www.sipree.com and follow us on Twitter and LinkedIn.