Orum Secures $5.2M Investment to Foster Growth

“Technology has created an on-demand economy, but our money has yet to catch up. Consider that the last innovation in money-movement was the ATM,” CEO and co-founder Stephany Kirkpatrick said in a statement provided to Built In. “The ability to move money instantly is a critical step in automating our wallets.”

FREMONT, CA: Orum, an NYC-based money movement platform, closed $5.2m in funding. The funding round was led by Homebrew, Acrew, Inspired Capital, Clocktower, Bain, and Box Group with active participation from angels from top industry operators from Plaid, Stripe, Venmo, and more. The company plans to use the money to roll out Foresight and grow the company’s team.

Led by founder and CEO Stephany Kirkpatrick, Orum has also launched Foresight, its debut product, with the purpose of enabling financial institutions to move money in real-time.

In addition to Kirkpatrick, the founding team includes CTO Ryan Cooke, who led technology and US expansion for consumer neobank N26, and VP of Data Science Christine Hurtubise, who led the function at fintech platform Stash before.

“Technology has created an on-demand economy, but our money has yet to catch up. Consider that the last innovation in money-movement was the ATM,” CEO and co-founder Stephany Kirkpatrick said in a statement provided to Built In. “The ability to move money instantly is a critical step in automating our wallets.”