PayIt Announces $4.5 Million Series A Funding
Mobile Government Leader PayIt Announces $4.5 Million Series A Funding
January 19, 2018
PayIt, the pioneer in mobile government platforms, announced today the completion of its Series A funding round totaling $4.5 million. Lead investors in the round include Advantage Capital Partners, Weatherford Partners, Royal Street Ventures and Missouri Technology Corporation.
PayIt’s patent-pending mobile platform brings speed and simplicity to citizen-government payment processing for state and local services, such as the DMV, permits and licensing, turnpike passes, income tax, traffic citations and more.
“Today’s always-mobile citizens expect the same convenience with government transactions as they do with mobile banking, online shopping and on-demand services like Uber,” said John Thomson, co-founder and CEO of PayIt. “PayIt’s cloud-based platform dramatically improves the way citizens engage with government and lets state and local leaders make an easy, affordable and meaningful leap forward in modernizing public services and payment processing.”
“Consumer mobile technology adoption continues to drive huge demand for personal, secure and immediate transactions,” said Scott Murphy, Chief Investment Officer at Advantage Capital Partners. “It’s time for the public sector to catch up with the advances of its private sector counterparts. We believe PayIt’s unique mobile payment platform empowers agencies with a no cost solution to engage their citizens.”
Kansas Transportation Authority recently deployed the PayIt Kansas mobile app, providing K-TAG account users the ability to access and manage their K-TAG account anytime, anywhere, directly from their smartphones.
“PayIt’s mobile platform transforms how state and local governments engage and serve citizens wherever they are,” said Will Weatherford, Managing Partner at Weatherford Partners. “This new investment enables the company to accelerate development of its platform and solution offerings in response to intense demand from state and local leaders.”
A member of Kansas City’s thriving technology start-up community, PayIt’s rapid growth also reflects the area’s strong tech talent and entrepreneurial spirit. The company will continue its recruiting efforts locally, adding skilled team members with a shared passion for bringing the power of mobile technology to the public sector.
PayIt’s citizen-first platform makes it quick, secure and effortless for people and government to do business, using a simple downloadable app. With our cloud-based mobile technology, everyday transactions like DMV renewals, turnpike passes and business permits are faster, more efficient and open up new revenue for state and local governments.