Forward Raises $16M to Improve Payments Risk Functions with AI

Forward Raises $16M in Seed Funding

Key Highlights:

• Funding Round: Forward, a technology partner for SaaS companies, raised $16 million in seed funding.
• Investors: Commerce Ventures, Elefund, and Fiserv led the funding round.
• AI-powered Risk Functions: Forward plans to apply artificial intelligence to improve the risk functions of payments, enhancing the client and merchant experience.

Forward's Target Market

• Target Market: SaaS companies seeking to integrate and monetize payments within their software platforms.
• Software Creators: Companies developing software solutions that require payment integration and monetization capabilities.
• ISVs (Independent Software Vendors): ISVs looking to enhance their payment services and provide managed PayFac services to their customers.

What Forward Needs to Buy

• AI and Machine Learning Solutions: Partnerships with AI and machine learning companies to enhance the risk functions of payments.
• Technical Integration Services: Collaborations with technology providers to offer seamless and efficient technical integration for software creators.
• Merchant Sales Support: Services to support software creators in merchant sales and customer acquisition.