Payzer is a financial technology company that provides an all-in-one platform, Payzerware, for HVAC, plumbing, and other field service contractors to manage payments, financing, customer relationships, and back-office operations.[1][2][3] It enables mobile and online payments, automatic payment plans, instant financing, and field service management tools to help contractors grow sales, streamline operations, and serve customers efficiently.[2][3][4] Founded in 2012 in Charlotte, North Carolina, Payzer raised $37.88M before being acquired by WEX in October 2023 for $250M-$261M, marking a major success for a homegrown Charlotte tech firm with reported revenue around $27.1M.[1][3][6]
Payzer was founded in 2012 by Joe Giordano, a former senior payments executive at ExxonMobil and Bank of America with over 25 years of experience, including architecting Speedpass—one of the earliest cloud-based wallets—and consulting for Fortune 500 clients like Verizon.[2][6] Giordano teamed up with Brad Pritchard, the CTO with a background in enterprise systems for startups and Fortune 500 companies like Bank of America and Verizon, after meeting through their daughters' basketball and lacrosse games in Union County.[2][6] Frustrated by outdated billing practices in the contractor industry—despite the internet era—they quit their jobs to build a modern payments solution for plumbers, HVAC techs, and similar field service pros.[6] Starting lean from a 4-person office above a garage, Payzer gained early traction by addressing real pain points in contractor payments and operations, evolving into a full field service management platform.[1][3][6]
Payzer rode the wave of fintech digitization in fragmented service industries like HVAC and plumbing, where legacy paper-based billing persisted despite broader tech adoption.[6] Its timing capitalized on rising demand for mobile payments and SaaS field service tools post-2010s mobile boom, enabling contractors to modernize amid labor shortages and customer expectations for instant financing.[1][2] Market forces like expanding home services (driven by aging infrastructure and remote work) favored Payzer, while its Charlotte base proved tech success beyond coastal hubs, inspiring local ecosystems.[6] The WEX acquisition expands scalable SaaS into corporate payments, influencing cross-sell in B2B commerce and validating contractor tech as a high-growth niche.[1][3]
Post-acquisition by WEX, Payzer's platform will likely integrate deeper into global commerce tools, accelerating growth via WEX's client base and enhancing cross-sell in field services.[1][3] Trends like AI-driven invoicing, embedded finance, and contractor labor tech will shape its path, potentially expanding beyond HVAC/plumbing. Its influence may evolve by powering more efficient service economies, turning a garage startup into a benchmark for regional tech triumphs—echoing how two local dads modernized an overlooked industry.[6]
Payzer has raised $40.0M in total across 4 funding rounds.
Payzer's investors include Grotech Ventures, NRV, Point Judith Capital, Razor's Edge Ventures, Brian O'Kelley.
Payzer has raised $40.0M across 4 funding rounds. Most recently, it raised $23.0M Series D in June 2021.
| Date | Round | Lead Investors | Other Investors |
|---|---|---|---|
| Jun 1, 2021 | $23.0M Series D | Grotech Ventures, NRV, Point Judith Capital, Razor's Edge Ventures, Brian O'Kelley | |
| Nov 1, 2018 | $9.0M Series C | Grotech Ventures, NRV, Point Judith Capital, Razor's Edge Ventures, Brian O'Kelley | |
| Sep 1, 2016 | $4.0M Series B | Grotech Ventures, NRV, Point Judith Capital, Razor's Edge Ventures, Brian O'Kelley | |
| Apr 1, 2015 | $4.0M Series A | Grotech Ventures, NRV, Point Judith Capital, Razor's Edge Ventures, Brian O'Kelley |
