“We experienced strong investor interest fueled by our unique value proposition and rapid pace of customer acquisition. The current fintech climate is driving massive growth, and Qolo’s 100% cloud-native, omnichannel offering is perfectly positioned to meet the demand,” said Patricia Montesi, Qolo CEO. “And we have yet to see a payments model we can’t power.”

In the past year, Qolo has tripled its staff, including C-Suite hires Chief Financial Officer, J. Peter Bardwick, Chief Client Officer, Betty Mitchell, and Dhruv Singh, EVP of Strategic Business Development. Qolo’s Series A funding allows the company to continue its expansion with additional talent growth, new product launches, and increased international focus. Last month, the company began rolling out the beta version of its Qolo Accelerator program, a unique engagement model allowing clients to quickly get to market, while maintaining product flexibility, program control and enhanced economics down the line.

“We’ve always been focused on investing in companies to help them realize their vision faster, and we are thrilled to support the incredible growth and fantastic leadership team at Qolo,” said Jim Pallotta, managing partner and founder of The Raptor Group. “The Qolo team has built a unique platform which future-proofs fintechs. Raptor is heavily focused on the sector and has seen how Qolo can assist our other portfolio companies. We recognize how unique Qolo is and are excited to be partnering with them.”