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Paynearme

Can PayNearMe (rebranded PayXM) become the dominant full-stack payment OS for regulated US industries—iGaming, lending, insurance, and utilities—by combining retail cash acceptance, digital payments, and disbursements in a single platform?

Founded2009
HQSanta Clara, CA
Total raised~$278M (including debt, per PitchBook)
Latest roundSeries E, September 2025
IndustryInfrastructure / Payments
The story

Founded in 2009 as a cash-payment network enabling unbanked consumers to pay bills at retail locations (7-Eleven, Walgreens, CVS, etc.), PayNearMe evolved into a full-stack billing and payments platform serving verticals including iGaming, lending, insurance, and mortgage. The launch of MoneyLine in 2021 formalized its dominance in US iGaming payments. In 2025, the platform was rebranded PayXM and the company raised a Series E, signaling a push to become the enterprise payment OS for regulated industries in the US.

Last 12 months
2025-03
2025-09
2025
Product timeline
2009
PayNearMe founded in Santa Clara, CA, initially focused on enabling cash payments at retail locations.· pivot
2021
Launched MoneyLine, a dedicated iGaming payment product, in October 2021.· banking
2025
Platform renamed PayXM and raised $50M Series E led by AVP; 2025 revenue topped $200M (60% YoY growth) on $50B+ annual processing volume.· pivot
2025
Partnered with Core10 to modernize loan repayments for community banks and credit unions via Core10's Mesh middleware.· lending
2025
Integrated Trustly to enhance open banking technology on the PayNearMe platform.· banking
The stack
Payments / PSP
PayNearMe (self-operated)PayPalVenmo
Open banking
Trustly
Accounting gap: minor