# Moov Financial

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/moov-financial

- Industry: Financial Services
- Headquarters: Cedar Falls, US
- Website: www.moov.io
- Total disclosed funding: $69M
- Latest round: Series B (Oct 12, 2022)
- Investors on record: 11

## About

Moov Financial, Inc., based in the US, specializes in payment processing solutions, providing a platform that enhances financial transactions for developers and businesses across various sectors.Moov Financial, Inc. was founded in 2018 in Cedar Falls, US to simplify payment processing through a comprehensive platform. The company has pivoted its business strategy to focus on enhancing developer integrations. Moov has raised a total of USD 40.00 mn in Series B funding led by Commerce Ventures, with participation from notable investors like Andreessen Horowitz and Bain Capital. The latest funding round occurred on October 12, 2022, bringing their total raised amount to USD 40.00 mn and valuing the company at USD 346.43 mn. The founders include Alvin A, Heather Terry, Robert Smith, and Wade Arnold, while David Rivas serves as CEO.Moov offers a comprehensive platform designed to streamline and enhance payment processing for technical teams across various industries. Their core product suite includes capabilities for accepting, storing, sending, and spending money, all facilitated through a single integration and legal agreement. Notable features include Moov Wallets for fund storage, instant payouts through bank and card transactions, and Moov Drops, which provide drop-in web components for customizable payment experiences. The platform primarily serves software developers, financial institutions, small-to-medium businesses (SMBs), fundraising platforms, and logistics companies, enabling them to manage payments efficiently and effectively. Geographically, Moov's products are utilized in markets such as North America and Europe, catering to diverse sectors from digital banking to construction.Moov generates revenue through a structured transaction model that includes partnerships and B2B direct-to-consumer interactions. Their pricing plans encompass a variety of services, including the transaction fees associated with payment processing and the integration of their APIs. Clients engage with Moov's platform to facilitate payments, leveraging features like contactless transactions and real-time banking solutions, which enhance user experience and transaction speed. The firm provides tailored solutions to its clients, allowing organizations to onboard faster and manage funds more effectively while ensuring compliance and security. Specific details regarding pricing structures for individual products and services are integrated into these transactions, reflecting the company's commitment to transparency and simplicity in their offerings.In October 2022, Moov Financial, Inc. raised USD 40.00 mn in Series B funding to support their upcoming initiatives, including a conference aimed at fostering collaboration among developers. The company plans to expand its product offerings and enhance features to better serve its clients. Additionally, Moov is targeting growth in new geographic markets to reach a wider audience, though specific regions for expansion have not been disclosed.

## Funding rounds

- Series B, Oct 12, 2022, $40M — Bain Capital, Sorenson Capital, Visa, Andreessen Horowitz, Commerce Ventures
- Series A, Nov 3, 2020, $24M — RRE Ventures, Bain Capital, Andreessen Horowitz, Commerce Ventures, Abstract Ventures, Gradient Ventures, Canapi Ventures, Uncorrelated Ventures, Veridian Credit Union
- Seed, Jun 22, 2020, $5.5M — RRE Ventures, Bain Capital, Commerce Ventures, Abstract Ventures, Gradient Ventures, Canapi Ventures, Uncorrelated Ventures, Veridian Credit Union

## Investors

- RRE Ventures (https://capitalatlas.ai/funds/rre-ventures) — Seed, Series A
- Bain Capital (https://capitalatlas.ai/funds/bain-capital) — Seed, Series A, Series B
- Commerce Ventures (https://capitalatlas.ai/funds/commerce-ventures) — Seed, Series A, Series B
- Abstract Ventures (https://capitalatlas.ai/funds/abstract-ventures) — Seed, Series A
- Gradient Ventures (https://capitalatlas.ai/funds/gradient-ventures) — Seed, Series A
- Canapi Ventures (https://capitalatlas.ai/funds/canapi-ventures) — Seed, Series A
- Uncorrelated Ventures (https://capitalatlas.ai/funds/uncorrelated-ventures) — Seed, Series A
- Veridian Credit Union — Seed, Series A
- Andreessen Horowitz (https://capitalatlas.ai/funds/andreessen-horowitz) — Series A, Series B
- Sorenson Capital (https://capitalatlas.ai/funds/sorenson-capital) — Series B
- Visa — Series B