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Today: Jun 13, 2024

Fort Wayne’s banking savior – soaring higher with fresh investors

1 min read

TLDR: Fort Wayne banking solutions company, Allied Payment Network, has secured new investors that are expected to double its year-over-year revenue growth and increase transaction numbers. New York-based RF Investment Partners and Michigan-based Plymouth Growth have invested in the company, providing more funding for the expansion of Allied’s infrastructure. This investment will support Allied’s growth with financial institutions in the $5 billion to $50 billion asset class. Allied specializes in real-time, open-network payment solutions for banks and credit unions.

Allied Payment Network, based in Fort Wayne, Indiana, has attracted new investors including New York’s RF Investment Partners and Michigan’s Plymouth Growth. The investment is expected to double Allied’s year-over-year revenue growth and increase transaction numbers by 40%. This funding will support Allied’s growth in the $5 billion to $50 billion asset class with financial institutions.

Allied Payment Network, founded in 2010, specializes in real-time, open-network payment solutions for banks and credit unions. It offers a range of mobile payment options, including online bill pay, P2P, PicturePay, BizPay, PortalPay, A2A, Vault, and online loan payments. The new investment will help expand the reach of the company and support its mission to improve the Allied platform. Geoff Knapp, CEO of Allied Payment Network, stated that the additional funding demonstrates deepening confidence in the company.