Qolo will use the fresh capital to hire new resources, expand its product line, and scale up its international focus. Credit: Qolo.

Omnichannel payments platform Qolo has secured $15m investment in a Series A funding round to accelerate its expansion plans.

The firm will use the fresh capital to hire new resources, expand its product line, and scale up its international focus.

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This financing round was led by The Raptor Group, who was joined by other professional investors and strategic partners.

Qolo CEO Patricia Montesi said: “We experienced strong investor interest fuelled 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.”

Qolo, which was founded in 2018, tripled its employee headcount in the past year.

These include several C-Suite hires including that of CFO Peter Bardwick, chief client officer Betty Mitchell, and EVP of strategic business development Dhruv Singh.

Last month, the company started the roll-out of the beta version of its Qolo Accelerator programme.

This programme is developed to help clients quickly get to market, while not compromising on product flexibility, programme control and economics.

The Raptor Group managing partner and founder Jim Pallotta commented: “We’ve always been focused on investing in companies to help them realise their vision faster, and we are thrilled to support the incredible growth and fantastic leadership team at Qolo.

“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.”

Earlier this week, digital cross-border payments platform Zepz raised $292m in new primary financing at a valuation of $5bn.