What is PayRange?
Founded in 2013 and headquartered in Portland, Oregon, PayRange operates as a sophisticated mobile application platform designed to bridge the gap between legacy automated machines and modern digital payment ecosystems. By enabling users to pay for vending machines, luggage carts, and transit ticketing via a unified interface, the company has established itself as a critical player in the unattended retail sector.
The firm's technology stack facilitates frictionless commerce, effectively replacing coin-operated and card-swipe hardware with a secure, cloud-connected mobile experience. This market position allows PayRange to capture significant transaction volume while providing operators with real-time data analytics and remote management capabilities.
How much funding has PayRange raised?
PayRange has raised a total of $84.7M across 4 funding rounds:
Angel/Seed
$2.6M
Angel/Seed
$150K
Series A
$12M
Unspecified
$70M
Angel/Seed (2014): $2.6M with participation from Nyca Partners
Angel/Seed (2014): $150K led by Nyca Partners
Series A (2015): $12M supported by Nyca Partners, Matrix Partners, and Google Ventures
Unspecified (2020): $70M featuring Undisclosed
Key Investors in PayRange
Nyca Partners
Nyca Partners is a fintech venture capital firm that specializes in seed to Series B investments across payments, infrastructure, capital markets, and embedded finance.
Google Ventures
GV is a venture capital firm that invests across multiple stages and sectors, focusing on enterprise solutions, life sciences, consumer products, and frontier technology innovations.
Matrix Partners
Matrix Partners is an award-winning firm that specializes in consumer product strategy, advertising, and public relations, with a deep history of supporting national brands.
What's next for PayRange?
With the infusion of capital from its latest financing, PayRange is well-positioned to scale its enterprise-level operations and expand its footprint in the global automated retail market. The strategic focus will likely center on deepening its integration with existing hardware providers and enhancing its proprietary payment gateway to support a broader array of consumer services.
As the industry shifts toward a fully cashless economy, PayRange's ability to leverage its established network and technological infrastructure will be paramount in maintaining its competitive advantage. Future growth initiatives are expected to prioritize user acquisition and the diversification of its service offerings, ensuring the platform remains the standard for mobile-enabled physical transactions.
