PayShepherd, a Calgary-based financial services innovator for heavy industries, announced an oversubscribed seed+ funding round of $7 million. This significant financial boost, led by Inovia Capital, is a testament to PayShepherd’s potential in transforming billing management and contract assurance.
The platform, designed to enhance transparency and efficiency in transactions between industrial facilities and contractors, was launched in 2018 by Wesley Sessenwein, Jennifer Hunter, and Johan Lee. Following a $3.8 million raise in 2022, this latest round will enable PayShepherd to incorporate Artificial Intelligence into its offerings.
CEO Sessenwein emphasizes the move towards modernizing vendor management processes in heavy industries, an initiative lauded by Inovia partner and new board member Shawn Abbott.
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