Routefusion Raises $10.5M in Seed Funding

Routefusion, an Austin TX-based fintech company, raised $10.5M in Seed funding.

The round was led by Canvas Ventures and Silverton Partners with participation from Haymaker Ventures, Initialized Capital, Sherwin Gandi (co-founder of Jeeves), and Aldrin Clement (co-founder of Novel Bank). Rebecca Lynn, co-founder and general partner at Canvas Ventures, joined Routefusion’s board of directors.

The company intends to use the funds to to grow its team with strategic hires including product and marketing and expand operations in new markets with a focus on Latin America (LatAm) and Africa.

Co-founded in 2018 by software engineers Colton Seal and Richard Scappaticci, Routefusion provides a solution for expanding banking and payment operations internationally. With its onboarding API, the company enables neo-banks, payroll providers, platforms, crypto, and marketplaces to operate cross-border to get connected immediately with multiple banking, FX, and local payout partners across the world. With a single integration, customers have access to more than a dozen different banking and foreign exchange providers, including AFEX, MoneyCorp, Cambridge, Tempus, ReserveTrust, Nium, and Buckzy. The company’s financial toolset enables developers and fintechs to bring a quality global product to market with confidence. Routefusion aims to bring its total reach to more than 180 countries and more than 150 currencies. Customers include Synapse, Jeeves, Novel, PaymentLabs, and Wyre.

Based in Austin, Texas, Routefusion’s remote-first workforce operates across North America.