Fintech startup AuthPay has raised $450,000 in a pre-seed funding round, with SCOPE VC leading the investment. The funding will be used to accelerate the company’s growth, enabling it to tap into new technologies and innovative business models within the fintech industry, according to a press release from AuthPay.
Founded in July 2020, AuthPay specializes in providing secure payment solutions to businesses around the globe. It employs cutting-edge technology and a focus on customer needs to help businesses improve their transaction processing, enhance security, and offer their customers a smoother payment experience.
AuthPay introduces a smart wallet feature that optimizes rewards for each purchase. Its AI, which is currently awaiting patent approval, suggests the most suitable card for transactions based on the merchant’s category, the transaction location, and available loyalty programs.
SCOPE operates as an exclusive networking platform, bringing together startups, investors, and industry specialists worldwide. AuthPay’s recent funding is part of SCOPE VC’s strategic moves following the introduction of their $45 million venture capital fund, aimed at spurring innovation in the fintech and gaming industries.
