HomeUSAGrazzy Closes $4M Seed Funding

Grazzy Closes $4M Seed Funding

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Grazzy

Grazzy, an Austin, TX-based provider of a digital payments platform for hospitality and service-focused businesses, raised $4M in Seed funding.

Backers included AZ-VC, In Revenue Capital, Iron Skillet Partners, Tuesday Capital, and Next Coast Ventures.

The company intends to use the funds to expand its team, accelerate new customer onboarding, and scale partnerships, integrations and go-to-market strategies to continue its exponential growth.

Led by Founder and CEO Russell Lemmer, Grazzy helps hourly employees make more money, access it the same day, and save and spend in more meaningful ways. By improving financial wellness for front line workers, it reduces retention and recruiting costs for hotels, bars, restaurants, salons, car washes, and more. The company also benefits back of the house operations by providing assistance to ensure tax compliance, scaling for businesses of any size, and real-time assistance with an expert care team. Its extensible payments platform enables digital tipping, instant disbursements, and inclusive banking solutions that are built to scale with hospitality and services businesses of any size.

Commenting on the news, Russell Lammer said: “On the Grazzy platform, we’ve moved millions of dollars directly to thousands of worker wallets. And we did that while saving our enterprise customers thousands of dollars a month in recruitment and retention costs. This latest funding will support new customer acquisition, feature development, and ecosystem partner integrations that will further accelerate Grazzy’s remarkable growth.”

FinSMEs

25/07/2024

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