US fintech Routefusion has raised $26.5 million in Series A funding, led by PeakSpan Capital, to expand its cross-border payments platform for businesses.
Founded in 2018, Routefusion provides an API that allows platforms and financial institutions to embed international payment services, multi-currency accounts, and currency conversion directly into their products.
This latest investment brings Routefusion’s total funding to $40.7 million. The Series A round saw participation from existing investor Silverton Partners. Previously, the company secured $3.6 million in a seed funding round in 2021, also led by Silverton Partners. Additional current backers include Initialized Capital, NextWorld Capital, and Plaid co-founder William Hockey.
The capital will be utilized to accelerate Routefusion’s expansion of its partner network, broaden its liquidity and compliance capabilities, and grow its product, engineering, and go-to-market teams. The company plans to deepen platform coverage across accounts, foreign exchange, and payments, while also enhancing onboarding and launch operations for its core customer base. As part of the investment, Justin Kelly, Vice President at PeakSpan Capital, will join Routefusion’s board of directors.
