Toronto’s Paymentus raises $20 Million from Accel-KKR

Richmond Hill’s Paymentus announced today that it has received an equity investment from Accel-KKR and Dan Morel from StartupNorth pegs it at $20 Million.

Paymentus is a leading electronic bill payment, presentment and customer communication technology and services company and the investment will be used by Paymentus to accelerate development, drive growth, and enhance the footprint of its real-time payment network.

Paymentus’ unified, SaaS platform delivers enterprise bill payment, presentment and revenue management technology through a self-service model, simplifying, automating and streamlining the bill payment process. Processing more than 75 million customer transactions annually, the company’s next-generation platform provides real-time, multi-channel payment processing, and the industry’s fastest and most simplified implementation experience.

Paymentus was founded in 2004 by Dushyant Sharma. Sharma will continue to lead the business in his current role of President and CEO and will remain a significant investor in the business.

Paymentus previously raised $3.6 Million in 2007 from JLA Ventures and GrowhWorks.