Modo Payments Secures $2 Million Funding Round
Feb. 22, 2016
Modo Payments, a Dallas-area startup, has raised $2 million to expand its payment platform. The company began life as a technology company that enabled in-store mobile payments, but pivoted in 2014 when it introduced technology that connects digital and traditional payment systems via the cloud. Modo’s platform, called the Digital Payments Hub, uses a patented process called COIN to move value—which includes things like loyalty points in addition to funds—in the background of payments systems.
According to the Dallas Business Journal, the company secured its most recent round from several individuals, led by Tim Keith, a Texas businessman who leads a proposed effort to build a bullet train from Dallas to Houston. This brings Modo’s total funding to $4 million.