Fort Wayne banking solutions company expects rapid growth with new investment
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Fort Wayne portfolio company Allied Payment Network has a new investment from New York-based RF Investment Partners and Michigan-based Plymouth Growth — a move expected to double Allied’s year-over-year revenue growth and increase transaction numbers by 40%.
The investment, Allied said, gives more firepower to the “new generation” of infrastructure the company is building. The company said in a news release the investment positions itself for increased growth with financial institutions in the $5 billion to $50 billion asset class.
Allied CEO Geoff Knapp said the new funding is critical to expanding their reach.
“We’ve experienced exceptional growth this past year due in no small part to RF’s initial 2022 investment, and we’re inspired by the deepening confidence that this additional funding demonstrates,” Knapp said. “We continuously seek to improve the Allied platform to serve the expectations of our expanding client base and support our mission.”
Allied, founded in 2010, specializes in real-time, open-network payment solutions for banks and credit unions. The company offers several mobile payment options, including online bill pay, P2P, PicturePay, BizPay, PortalPay, A2A, Vault, and online loan payments.