QED Investors led the round of financing for PeerTransfer, a payment solutions provider focused on the education sector. The round closed at $6.4 million worth of new funds. Nigel Morris of QED Investors fronted the investment round, along with KIBO Ventures and FIDES. Spark Capital and Maveron also participated as existing investors.
peerTransfer is an online international payments solutions provider servicing 350 educational institutions in North America, Australia, and Europe. Its notable clients include Cornell University, the University of Pennsylvania, University of Washington, University of Illinois, and other colleges and K-12 schools.
"In the international payment market, trillions of dollars move across borders in a process that is full of inefficiencies and excessive costs for the payer and the recipients. At peerTransfer, we are excited to continue our global expansion and invest in new products that will further improve the process of making and receiving international payments," explained Iker Marcaide, Chief Executive Officer and Founder of peerTransfer.
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