Forward, a Tech Partner Supporting SaaS Platforms with Streamlining Payments, Reports Seed Round

Forward, a technology partner empowering SaaS companies to integrate and monetize payments, announced $16M in seed financing.

The investment round was led by Commerce Ventures, Elefund, and Fiserv.

The capital will enable Forward “to meet accelerating demand from software partners while applying artificial intelligence to the risk functions of payments to dramatically improve the client and merchant experience.”

The company, founded by software industry veterans, partners “with SaaS companies to increase their revenue by two to three times by adding payments as a product.”

Founder and CEO Brandon Lloyd said:

“Most software companies get the technical part right, but fail to achieve their business goals. We believe many software companies who have ‘integrated payments’ should be generating greater revenue from these products, and Forward is here to help them do that. Most software companies get the technical part right, but fail to achieve their business goals. We believe many software companies who have ‘integrated payments’ should be generating greater revenue from these products, and Forward is here to help them do that.”

In addition to providing financing and technology, financial technology firm Fiserv is utilizing Forward capabilities “to expand and enhance the payment services it provides ISVs, including managed PayFac services.”

Jon Halpern, SVP and Head of ISV at Fiserv said:

“With our expansion into the managed PayFac space we are making it even easier for our clients to access payment services and go to market faster. Fiserv and Forward are moving the industry into the future with a collective commitment to power the ISV experience.”

Commerce founder and managing partner Dan Rosen said:

“The Forward team has an incredible vision for the future of integrated payments, built a product that will re-define the category, and have empathy and passion for helping SaaS companies succeed in their payments journey.” 

Ten years ago, less than 10% of credit and debit card volume was “integrated with software, and analysts at JPMorgan Chase are now forecasting software market share of payments to reach 50% of the U.S. market by 2030.”

As noted in the update, Forward is giving back “to the software community with a payments offering we wish existed when we were operating vertical SaaS companies.”

They claim to care about your success and “want payments to help partners make their core business more profitable.”

Their offering includes a payment facilitation software and services platform “built by software creators for software creators.”

Payments expertise in program “design, technical integration in less than a week, on-going merchant sales support, and the ability to migrate to a registered payment facilitator at any time.”



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