Paytech Start-up Extend Secures $40m in Series B Round

Fazzaco learned that New York-based Paytech start-up Extend has secured $40 million in a Series B funding round, which was led by March Capital with participation from B Capital, Point72 Ventures, Fintech Collective, Reciprocal Ventures, Wells Fargo and Pacific Western Bank.

With this new funding, Extend plans to develop its platform, expand the number of services it provides and make inroads into the consumer market.

Extend has integrated with networks and processors — including Global Payments/TSYS, Mastercard and Visa — which means card issuers can use the platform without technical implementation. The start-up also offers aggregated virtual card APIs, including a buy now, pay later (BNPL) solution, a digital corporate card app and a card tokenisation service.

Founded in 2017, Extend provides digital payment infrastructure for banks, businesses and other financial institutions, including a virtual card platform to enable clients to offer digital card solutions.