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Tilled closes $11 million Series A extension

Source: Tilled

Tilled, the leading PayFac-as-a-Service provider, announced today the close of an , led by G Squared, with participation from existing investors Peterson Ventures and Abstract Ventures.

In addition to a new infusion of capital, Tilled has also launched omnichannel payments, offering a more complete solution to enterprise-level customers. The new funds, which follow a $11 million Series A in May 2021, will allow Tilled to continue its aggressive growth trajectory, investing in top-tier talent to fuel the development and rollout of new products and services.

“PayFac-as-a-Service is transforming the payments landscape for the better. With this Series A extension, Tilled will continue to move fast to ensure no software company has to choose between modern technology and competitive economics when looking for a payments partner for their business,” says Caleb Avery, founder and CEO of Tilled. “In just over six months, we doubled our funding, nearly tripled our valuation, quadrupled our team, and launched core products such as omnichannel payments. Looking ahead, I’m proud to add G Squared to the Tilled investor team. With their support, we can aggressively tackle our ambitious roadmap ahead.”

“Tilled’s innovative, turn-key solution is designed to allow its partners to own more of the value chain, deliver margin improvement, and create a new revenue stream," said Larry Aschebrook, Founder & Managing Partner of G Squared. “The platform’s economic benefit is enhanced by its outstanding customer experience and full omnichannel product suite, a combination that has driven exceptional interest from leading ISVs. We are delighted to support Tilled in this Series A extension as the company accelerates its growth.”

New Functionality and Features: Introducing Omnichannel

Omnichannel payments, Tilled’s newest functionality, enables independent software vendors (ISVs) to now process card-present transactions, in addition to card-not-present, and accept a wider range of payment forms. While card-not-present transactions have increased over the last two years, the vast majority of transactions still take place in a card-present environment.

For ISVs that previously hadn’t had omnichannel payments capabilities, their merchants were forced to find another solution, ultimately leaving a substantial amount of money on the table. Now, with Tilled's omnichannel payments functionality, ISVs can capture revenue from both card-present and card-not-present transactions. This new functionality means ISVs can offer their merchants a complete solution for their payments needs.

Building a World-Class Team

Since May 2021, when Tilled raised a Series A, the team has more than quadrupled to more than 50 today. Tilled was recently named one of Built In Colorado’s 100 Best Places to Work, as well as one of the top 10 best paying companies in the state. With the new funding, Tilled plans to more than triple the size of the current team by the end of 2022.

Tilled is hiring across all departments including sales, marketing, engineering, implementation, and customer support. Searches are being conducted both locally in Boulder and nationwide searches for the best candidates. Offering flexible work options that take team members’ lifestyles and work preferences into account, Tilled has invested in a 26,000 square-foot office space near Boulder for team members to gather in, while supporting those who prefer to work-from-home.

“At Tilled, we take pride in our culture of accountability, fairness, transparency, and collaboration. There are endless opportunities for candidates to grow and perform, with supportive leadership who know that creating an environment where everyone feels included and important is key to our success,” said Tim Meurer, Tilled’s director of talent. “At the same time, while we take our product seriously, we don’t take ourselves too seriously. We are changing the payments landscape for the better, and we’re having fun while we do it.”

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