Nivelo Secures $2.5M Seed Funding to Revolutionize Secure ACH Payments
As digital transactions surge during the pandemic, ACH payments—the backbone of payroll deposits and bill payments—have become more critical than ever. Nivelo, an innovative fintech startup founded by a former JP Morgan executive, is tackling the risks associated with these transactions. The company recently announced a $2.5 million seed funding round, which closed in mid-August.
Key Investors and Product Launch
The funding round was led by prominent investors including FirstMark, Barclays, and Anthemis, with participation from Dash Fund and several angel investors. Alongside the funding announcement, Nivelo unveiled its Risk Scoring API for payments, now available in private beta.
The Problem with Legacy ACH Systems
Co-founder Eli Polanco highlights the outdated nature of current ACH infrastructure:
“ACH payments are the most ubiquitous payment channel in the U.S., processing over $55 trillion annually. Yet, the technology remains stuck in the past, creating unnecessary risks for digital transactions.”
Nivelo’s solution? A modern API-driven risk assessment platform that enables businesses to evaluate transaction risks in real time.
How Nivelo’s Technology Works
- Real-Time Risk Scoring: APIs analyze transaction data to flag potential fraud or errors.
- Seamless Integration: Designed for easy adoption into existing payment workflows.
- Focus on Accessibility: Built to reduce friction for underserved users, including immigrants and small businesses.
A Founder’s Journey: Breaking Barriers in Fintech
Polanco, a Black woman and immigrant from the Dominican Republic, launched Nivelo in January 2020. Despite facing systemic challenges—Black founders receive less than 1% of venture funding—she secured investment by focusing on her expertise and compelling vision.
“I knew discrimination exists, but I chose to play offense—arming myself with data and a clear mission,” she shared.
Her background as a payments product manager fueled her drive to create inclusive fintech tools that address real-world pain points.
The Pandemic’s Impact on Digital Payments
COVID-19 accelerated the shift away from cash and checks, exposing gaps in digital payment security. Polanco noted:
“The pandemic revealed how unprepared many systems are for a cashless future. Our goal is to make ACH transactions as secure as card payments.”
Investors recognized this urgency, propelling Nivelo’s successful fundraise.
What’s Next for Nivelo?
With the seed round closed, Nivelo is scaling its alpha product and expanding its user base, which currently includes thousands of early adopters. Future plans include:
- Enhancing API capabilities for broader use cases.
- Partnering with financial institutions to embed risk-assessment tools.
- Advocating for equitable access to financial services.
As digital payments evolve, Nivelo’s mission to modernize ACH security positions it as a key player in fintech’s next chapter.
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