Paymerang
“Can AP automation layered on top of existing accounting software become the dominant B2B payment rail for mid-market organizations in education, healthcare, and hospitality?”
Founded2010
HQChesterfield, Virginia, United States
Total raised$36M
Latest roundAcquired by Corpay
IndustryHorizontal SaaS / Accounting
The story
Founded in 2010 as a B2B electronic payments and money transfer company, Paymerang evolved into a full accounts payable automation platform targeting mid-market organizations in education, healthcare, hospitality, and manufacturing. The company differentiates by enabling clients to keep their existing accounting software while adding payment automation on top. The acquisition by Corpay in 2024 positioned Paymerang as the invoice and payment automation layer within Corpay's broader spend management ecosystem (Corpay Complete).
Product timeline
2010
Paymerang founded in Richmond, Virginia as a B2B electronic payments and money transfer service.· pivot
2021
Raised $36M in funding from Aldrich Capital Partners and Union Bank & Trust to expand AP automation platform.· banking
2024
Acquired by Corpay (NYSE: CPAY), becoming a brand within Corpay's spend management portfolio.· acquisition
The stack
4 layers disclosed in Paymerang’s embedded-finance stack
Money movement
Banking / BaaS
in the full report
Sponsor bank
in the full report
Accounting
in the full report
Accounting gap: minor
4 more providers across 3 layers, with confidence-scored evidence and source URLs, are in the Embedded Finance Index report.