PayNearMe, a fintech focused on modernizing payments for non-commerce businesses, has closed a $50 million Series E round led by AVP (Atlantic Vantage Point) Growth Fund I. The funding will accelerate expansion into new markets and support ongoing investment in products designed to simplify the end-to-end payment journey for clients.

Reinventing Payments for Underserved Businesses

“PayNearMe has redefined what it means to deliver a modern payment experience,” said Elizabeth de Saint-Aignan, General Partner and Head of Growth Fund, North America at AVP. “The company is uniquely positioned to solve challenges in a space long underserved and overlooked. Their vision and execution are changing how non-commerce businesses approach payments.”

The company has pioneered what it calls Payment Experience Management, combining software with money movement services to optimize every step of the payment lifecycle. By accelerating payments and reducing costs, PayNearMe helps clients improve cash flow, profitability, and customer satisfaction.

“For too long, payments have been treated only as a cost of doing business,” said Danny Shader, CEO of PayNearMe. “We see improving payments as a powerful way to differentiate, drive satisfaction, and boost business results. AVP’s funding will allow us to deliver Payment Experience Management to more clients and in new markets.”

PayXM™: A Platform Built for the Entire Payment Journey

As part of this next chapter, PayNearMe has rebranded its platform to PayXM™, touted as the industry’s first platform purpose-built to improve the end-to-end payment experience. PayXM allows businesses to manage all major payment types across popular channels from a single platform, streamlining operations, reducing friction, and improving client experience.

This move positions PayNearMe at the forefront of a growing trend: treating payments not just as a back-office necessity, but as a strategic lever for business performance and customer engagement. Analysts note that PayNearMe’s approach could set new expectations for non-commerce payment solutions, challenging traditional processors to innovate.