Rutter raises $ 27 million in Series A to become “Plaid of commerce”

“On a mission to enable a new commerce experience,” Rutter, a US-based startup, has raised $ 27 million in a Series A round led by Andreessen Horowitz.

We also invested in Zachary Perret (CEO, Plaid), Charley Ma (GM Fintech, Alloy), Juan Santa Cruz (CRO, Modern Treasury), Bob Young (CEO, Red Hat), Ravi Parikh (CEO, Airplane) and Joshua Ma. I am. (CTO, plane, benching).

They will join existing investors such as Comma Capital (David Ongchoco and Adarsh ​​Bhatt), Basis Set Ventures, Haystack, Liquid2, The Chainsmokers (Mantis Capital) and Jim Lanzone (Yahoo CEO).

With the latest funding, Rutter’s total funding is now $ 29.5 million.

Rutter co-founders Peter Zhou (right) and Eric Yu (left)

“By providing a universal commerce API, we can accelerate the development of new commerce and financial services by removing the complexity of processing records for various e-commerce storefronts, accounting systems, payment processors and other merchant systems. “I believe,” says co-founder and CEO Peter Zhou.

“Just as Plaid made it easier for fintech companies to get started with integration with banking data, Rutter allows all commerce possibilities and fintech companies to start servicing merchants and SMBs faster. I will. “

This start-up works with fintech companies, expense management start-ups, business banks, e-commerce companies, and direct shipping companies. “Hundreds of start-ups are using Rutter as a core part of their infrastructure, making it easy to retrieve data from merchants and small businesses on any commerce platform,” Zhou said. Among its clients are Ramp, Airwallex, and Uncapped.

Rudy Dobrzynski, Head of Engineering at Uncapped, said the solution reduced the time to build the integration and reduced the time to market by a factor of five.

“It used to take weeks to build a new integration, but now it takes days,” says Dobrzynski.

“Rutter is the only provider we’ve worked with and has achieved 99.999% uptime so far. It’s more reliable than the Facebook API.”

Rutter started a year ago and is now growing its team to 20 people. Series A plans to grow the team across all capabilities of engineering, products, and market launch. Rutter is a “remote first” company with hubs in San Francisco and New York.

Rutter raises $ 27 million in Series A to become “Plaid of commerce”

Source link Rutter raises $ 27 million in Series A to become “Plaid of commerce”

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