News from the Wire

Paygevity raises $250,000 in funding through Crowdfunder

Friday, May 29, 2015 — 12:46:47 (EDT)

New York, May 29, 2015 - Paygevity, Inc., a global technology-driven payment processing and vendor services company, announces the launch of a Convertible Note Crowdfunding campaign on Crowdfunder, a securities based crowdfunding platform. Paygevity will use the funds to scale their proprietary PromptPay™ platform, market their technology and build out their sales team.

Paygevity's campaign has only been live on the Crowdfunder website for 7 days, and the Company has raised $250,000 -- halfway to its targeted goal. During the first week, large investors have funded Paygevity's campaign. The average investment has been in excess of $80,000.

In a business-to-business environment expensive financial inefficiencies have ruled supply chain payments for over a century. Slow paying corporate buyers put vendors in a difficult place -- threatening both growth and opportunity. Paygevity's founders saw that it was time for a change. Paygevity set out to develop a payment platform that empowers supply chain participants and fosters positive relationships between buyers and suppliers. Paygevity's PromptPay™ platform pays vendors quickly and at the lowest possible cost. Paygevity is a one-stop shop for vendor payments.

"The Paygevity PromptPay™ platform facilitates business-to-business commerce worldwide, offering enterprise payment solutions -- across all industry sectors," said Neil Rothenberg, Founder & CEO of Paygevity.

Paygevity's management believes that merging technology and finance through its PromptPay™ innovation can contribute to social and economic advancement, while fostering valuable and long lasting relationships for the global supply chain community.

"Paygevity's payment platform provides a connective technology that lets both buyer and seller win. I take great pride in helping people fulfill the American Dream and so should you. Paygevity's technology platform makes business better," said Devin Wicker, CEO of Bonwick Capital Partners and a former Goldman Sachs Executive.

Paygevity is seeking to raise a minimum of $500,000 in this round and they are well on their way, www.crowdfunder.com/paygevity/invest .

Paygevity:

Paygevity's mission is to provide entrepreneurs access to the cash flow they have already earned. Our task is to provide buyers with the tools and capacity to achieve vendor management goals and meet the demand for increased financial flexibility. Our goal is to empower all businesses to grow. Paygevity seeks to advance professional supply chain and payments management into a more value conscious enterprise for both buyer and supplier. We believe that by providing advanced enterprise connectivity and communications, data analytics and financial capacity, Paygevity can make a contribution to economic and social betterment.

Crowdfunder:

Crowdfunder is the leading equity crowdfunding platform, with over 100,000 registered users and $75 million committed across investments to-date. Entrepreneurs use the platform to tell their story and raise investment from a community of institutional and individual accredited investors. The company plays a significant role in JOBS Act legislation, creating the new market for equity crowdfunding that brings private investing online. For more information, visit Crowdfunder or follow them on Twitter.

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Source: Company press release.