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About Orum.io
Industries
Fintech
Financial Services
Company Size
11-50
Company Stage
Series B
Total Funding
$82.2M
Headquarters
New York City, New York
Founded
2019
Overview
Orum.io provides a straightforward API that enables businesses to process fast payments efficiently. This API acts as a digital bridge, allowing companies to send and receive money without the complications and delays associated with traditional bank integrations. Orum.io serves a variety of clients, including online marketplaces and creator platforms, which benefit from quick and reliable payout solutions. Unlike many competitors, Orum.io focuses on optimizing both speed and cost, ensuring that businesses can meet the growing demand for real-time transactions. The company's goal is to enhance user trust and loyalty by providing a dependable payment solution that allows customers instant access to their funds.
Simplify's Take
What believers are saying
- Increased adoption of 'No Code' solutions benefits Orum's 'No Code Verify' offering.
- Demand for instant payment systems aligns with Orum's API services.
- Focus on reducing failed payments highlights Orum's Verify solution importance.
What critics are saying
- Emerging fintech startups may dilute Orum's market share.
- Rapid payment technology evolution may strain Orum's resources.
- Reliance on Federal Reserve rails exposes Orum to regulatory risks.
What makes Orum.io unique
- Orum offers a 'No Code Verify' solution for instant bank account verification.
- Orum's Deliver API connects directly to Federal Reserve payment rails.
- Orum provides access to all major payment rails, including RTP and FedNow.
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Funding
Total Funding
$82.2M
Above
Industry Average
Funded Over
3 Rounds
BoxGroup
AccelIndustry standards
Benefits
Health Insurance
Dental Insurance
Vision Insurance
401(k) Company Match
Unlimited Paid Time Off
Paid Holidays
Paid Vacation
Paid Sick Leave
Paid Parental Leave
Employee Stock Purchase Plan
Health Savings Account/Flexible Spending Account
Home Office Stipend
Phone/Internet Stipend
Professional Development Budget
Growth & Insights and Company News
6 month growth
↓ -2%1 year growth
↑ 0%2 year growth
↓ -2%Nacha announces Orum as a Preferred Partner for ACH Experience and Nacha Certified.
MIAMI BEACH, Fla.--(BUSINESS WIRE)--Orum, which offers an API for fast, reliable payments, is now a Nacha Preferred Partner for ACH Experience and has also attained Nacha Certified status. Orum optimizes and automates ACH payment processes for businesses and institutions via its money movement solution, Deliver, and its instant bank account verification technology, Verify. The modern APIs allow businesses to launch payments and instant bank account verification in one sprint or less, eliminating the need for costly bank integrations. "We welcome Orum as a Preferred Partner for ACH Experience and congratulate them on achieving Nacha Certified standing," said Jane Larimer, President and CEO of Nacha. "Nacha's Preferred Partners are driving significant advancements in the ACH Network, and Nacha Certified third parties promote the integrity of the ACH Network."
Orum launches 'No Code Verify' solution to prevent failed payments.
Orum launches No Code Verify tech for FedNow payments.
NEW YORK--(BUSINESS WIRE)--Orum, the simplest API for fast, reliable payments, today announced the launch of No Code Verify, which helps businesses and institutions determine whether a bank account is open and valid before initiating payments — all without integrating an API. Orum’s Verify solution offers 100% coverage of all US-based consumer and business bank accounts — a meaningful step forward in an industry still plagued by invalid credentials, friction, and fraud. The new technology, launched in October 2023, makes it easy for businesses and banks to verify the status of any type of bank account. Failed payments cost the global economy over $100B each year, a problem Verify solves by completing bank account verification within 15 seconds. No Code Verify takes this a step forward, broadening access to the first-of-its-kind solution by enabling businesses and financial institutions to utilize the technology without connecting to an API or additional integrations. “Failed payments have plagued the industry for too long, and I’m excited to scale our impact with No Code Verify, which will help drive transformation in businesses and institutions not ready to connect to APIs
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About Orum.io
Industries
Fintech
Financial Services
Company Size
11-50
Company Stage
Series B
Total Funding
$82.2M
Headquarters
New York City, New York
Founded
2019
There are no jobs for Orum.io right now.
Find jobs on Simplify and start your career today