Torpago, a San Mateo, CA-based provider of commercial credit cards and spend management solutions, has raised $10 million in a Series B funding round.
Key Highlights:
- Funding Details:
- Amount Raised: $10 million
- Round: Series B
- Lead Investors: Priority Tech Ventures (a division of Priority Technology Holdings, Inc.) and EJF Ventures
- Other Participants: BankTech Ventures and other existing investors
- Purpose of Funding:
- Enhance Implementation and Compliance: Improve resources for better implementation and compliance.
- Expand Product Suite: Continue the development and expansion of its product offerings.
About Torpago:
- CEO: Brent Jackson
- Location: San Mateo, CA
- Product Offering:
- White-Labeled Business Credit Cards: Provides customizable credit cards for banks and credit unions.
- Expense Management Software: Offers solutions for managing expenses efficiently.
- Program Management: Delivers end-to-end program management services.
- Technology Stack: Utilizes modern technology including web and mobile applications, native APIs, and microservices to facilitate the adoption and deployment of their products.
Torpago’s innovative solutions help financial institutions enhance their service offerings with robust, customizable credit card and expense management tools. This funding will enable Torpago to bolster its compliance and implementation capabilities while continuing to evolve its suite of products, supporting its mission to streamline financial operations for businesses.
