PaymentsCardX Secures $2M in Growth Capital with Pace Financial Group

PRNewswire PRNewswireAugust 27, 20193 min

CardX, a payment technology company, announced Monday that the company secured an additional $2,000,000.00 in growth financing through Pace Financial Group, bringing CardX’s total capital raised to date to $8.62M.

Founded in 2013, CardX is led by Founder and CEO Jonathan Razi and COO Michael Tomko, both graduates of Harvard Law School. The company is a significant innovator in technology-enabled compliance for credit card surcharging.

“The CardX team has built a great company with incredible potential for continued growth. They have an excellent track record and we are very pleased to participate in funding their next stage of expansion,” said John Carr, Managing Director of Pace Financial Group. “Our prior relationship and comfort with Michael Tomko and the CardX leadership team helped facilitate the transaction,” added Mike Wagner, Vice President of Pace Financial Group.

This round of non-dilutive capital will advance the ongoing development of CardX’s next-generation digital products and accelerate hiring within the company’s recently-expanded Chicago headquarters.

Michael Tomko, who spearheaded the financing as CardX COO, noted, “This funding will allow us to continue the remarkable success CardX has seen in 2019 and deliver on our exciting pipeline for new product and marketing. We have the perfect capital partner in Pace and look forward to working with them for years to come.”

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