Park Place Payments is a technology company.
Park Place Payments has raised $2.0M across 1 funding round.
Park Place Payments has raised $2.0M in total across 1 funding round.
Park Place Payments has raised $2.0M in total across 1 funding round.
Park Place Payments's investors include First Republic Bank, Immeasurable, Trajectory Ventures, WestRiver Group, Wind Ventures, Justin Mateen, Nate Matherson.
Park Place Payments is a women-owned fintech company founded in 2018 in Los Angeles, California, specializing in merchant payment processing and financial services tailored for small businesses (SMBs), particularly mom-and-pop shops.[1][2][3] It builds a sales-force-as-a-service platform leveraging an independent freelance sales force across all 50 U.S. states to deliver personalized online and point-of-sale payment solutions, solving high fees, poor support, and inflexible contracts in the payments industry by offering award-winning service and innovative guarantees like paying clients to switch providers.[1][2][3] The company served SMBs through rapid growth to 1,500 team members (including freelancers), $3 million+ in annual revenue by 2023 (with projections over $5 million), raised $4 million in VC funding, and was acquired by Logiq in an all-stock deal valued at ~$7 million in April 2023, enabling continued leadership under founder Rebecca Ettus amid a tough fundraising climate.[1][3]
Founded in 2018 by Rebecca Ettus, a serial entrepreneur, Park Place Payments emerged from her vision to personalize payment processing for underserved small businesses, drawing on her prior experience in media and business (including a podcast and newsletter).[1] Ettus bootstrapped early growth by recruiting a nationwide freelance sales force—starting with in-person training in six cities—via university career offices, online ads targeting ex-MLM workers, and her personal networks, complementing seven full-time employees.[1] Pivotal moments included raising $4 million in VC, forming an alliance with Payroc (a top non-bank processor) in 2021 to boost tech capabilities, and launching a "Customer Experience Guarantee" that paid SMBs to leave competitors, marking an industry first.[1][3] By April 2023, with $3 million+ revenue and 1,500 affiliates, Ettus sold to Logiq for ~$7 million in stock ($2.3 million upfront, $4.7 million earnout), retaining leadership to fuel further expansion.[1]
Park Place Payments rides the fintech democratization wave for SMBs, capitalizing on the gig/freelancer economy boom and post-pandemic shift to flexible, low-friction payments amid rising e-commerce and digital adoption.[2][3][4] Timing aligned with SMBs seeking alternatives to legacy processors' high fees and rigidity, amplified by tough VC environments favoring proven revenue models—its 2023 acquisition by Logiq (a marketing tech firm) reflects consolidation trends blending payments with data-driven lead gen.[1] It influences the ecosystem by pioneering customer-first innovations (e.g., switch incentives) and scalable freelance sales, lowering barriers for women-led fintechs and inspiring hybrid sales models in competitive merchant services.[1][3]
Under Logiq's umbrella, Park Place Payments is poised for accelerated scale, targeting $5M+ revenue through integrated marketing tech and expanded SMB leads, while navigating fintech M&A waves.[1] Rising SMB digitization, AI-driven personalization, and regulatory pushes for fairer payments will shape its path, potentially evolving into a full-suite financial services hub. Its founder-led resilience positions it to redefine merchant empowerment, echoing its origin as a scrappy challenger now fueling ecosystem growth.
Park Place Payments has raised $2.0M across 1 funding round. Most recently, it raised $2.0M Seed in May 2021.
| Date | Round | Lead Investors | Other Investors |
|---|---|---|---|
| May 1, 2021 | $2.0M Seed | First Republic Bank, Immeasurable, Trajectory Ventures, WestRiver Group, Wind Ventures, Justin Mateen, Nate Matherson |