Rise Secures $6.3M in Series A Funding for Innovative Hybrid Payroll Solutions
Rise Secures $6.3M in Series A Funding for Innovative Hybrid Payroll Solutions
Rise, a leading hybrid payments platform, has successfully completed its Series A funding round, securing $6.3 million in capital. This investment, led by Draper Associates and co-led by Polymorphic Capital, will enable Rise to accelerate its mission of providing advanced hybrid payroll systems for businesses worldwide.
Investment Details and Goals
The latest funding round, which brings Rise's total funding to $10 million, showcases the growing demand for hybrid payroll and payment solutions as businesses adapt to modern financial landscapes. According to Hugo Finkelstein, Co-founder & CEO of Rise, this capital will facilitate the rapid release of new products aimed at enhancing payment operations for both web2 and web3 enterprises.
Innovative Payment Solutions at Rise
At the core of Rise’s offerings is a hybrid payment infrastructure enabling seamless transactions between fiat currencies, stablecoins, and cryptocurrencies. Their services, including the Global Contractor Payment system, allow businesses to pay international contractors in their preferred currencies, significantly simplifying global payroll.
Compliance and Future Prospects
Rise's platform is designed to support compliance with international tax regulations and employment laws, making it a preferred choice for businesses looking to adapt to a changing work landscape. The company aims to expand its team and enhance its services with further investments from this funding.
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