Payments Tech Startup Routefusion Raises $26.7M Series A

Originally published here at Crunchbase

Routefusion, an Austin, Texas-based financial infrastructure provider, has raised $26.7 million in a Series A round led by PeakSpan Capital, the company told Crunchbase News exclusively.

Silverton Partners also participated in the financing, which brings the company’s total funding raised since its 2018 inception to $40.7 million. Other backers include Initialized Capital and Forum Ventures, among others.

Colton Seal, co-founder and CEO, declined to reveal at which valuation this round was raised, saying only that it was an up round. The company last raised in January 2022 — a $10.5 million seed round.

Overall, global venture funding to financial technology startups has already reached $36 billion across 2,810 deals in 2025 as of Oct. 8, per Crunchbase data. That’s a 28.93% increase in dollars raised compared to the $26.9 billion raised across 3,508 deals during the same time period in 2024.

Accessible unified network

Routefusion has created a single API that it says gives businesses the ability to embed accounts, payments, currency conversion and compliance into their products. Put more simply, it aims to make it easier for platforms and financial institutions to open global accounts and make international, or cross-border, bank-to-bank payments. It works with over 30 customers in the United States, European Union, United Kingdom, Mexico and Brazil. Those customers span a variety of industries, including payroll and employer-of-record, B2B payments and banking, and include Payment Labs, Rise, Jeeves and Clara.

What sets Routefusion apart, according to Seal, is that it was built as a unified network, with multiprovider and multibank redundancy.

“We are highly configurable and have positioned ourselves to be adaptable to the most complicated use cases, both from a technical and compliance perspective,” he told Crunchbase News. And unlike traditional middleware, Routefusion manages integrations, onboarding and compliance in-house, which Seal said allows businesses “go live faster and scale globally without managing fragmented infrastructure.”

Competitors include Airwallex and Wise. Those companies are more focused on consumers and SMBs, however, while Routefusion targets global platforms and financial institutions as customers, according to Seal.

Over the past 12 months, Routefusion has seen its revenue triple, he said, although he declined to reveal hard revenue figures. The company operates with a usage-based revenue model and charges platform access subscription fees.

“We operate capital efficiently and see ourselves as able to reach profitability with this round of funding,” said Seal, who previously worked as a network engineer for Citi. The company is also planning to use its new capital to invest in its engineering, product and compliance teams while also experimenting with GTM programs.

Presently, Routefusion has about 25 employees.

Justin Kelly, vice president at PeakSpan Capital, said his firm invested in Routefusion because it sees the startup as “a mission-critical infrastructure provider.”

“Most providers are either application-first with an API bolted on or thin middleware that leaves customers to stitch together banks, FX, and compliance themselves. Routefusion is API-first at the surface but operated end-to-end underneath,” he told Crunchbase News via email. “What this means in practice is that, in addition to providing access to its network, the company also supports customers in running ‘the hard parts’ of a cross-border payments or global accounts program: integrations, onboarding, compliance workflows, and post-launch maintenance.”