Fintech Startup Payment Labs Raises $3.25 Million Seed Round to Power Payments in Sports, Creator Economy, Esports, and More

Payment Labs, a global fintech leader specializing in payment solutions, announced it has closed a $3.25 million oversubscribed seed round to simplify complex payment processes for high-growth industries such as sports, esports, and the creator economy. Led by Aperture Venture Capital with participation by Capital Eleven, ESPMX and other investors, the round reflects the growing market demand for Payment Labs’ purpose-built SaaS platform, which empowers businesses to seamlessly manage global payments, including payments in 150+ currencies across 180+ countries.

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“In esports, I became very familiar with the international nature of competitions, the compliance and regulatory issues that those create, the need to track down at times hundreds of individual payees, and more,” said Han Park, CEO, Payment Labs. “Those lessons translated directly to Payment Labs’ work in sports and other industries, where we’ve found success in eliminating similar pain points with frictionless solutions. Now, we’re looking forward to expanding those offerings and scaling our team to continue to make payments faster, easier, and compliant.”

Payment Labs offers a comprehensive 360° API-driven platform for fast, secure payments for payins and payouts. The Payment Labs platform also incorporates tax and regulatory compliance, payments tracking, reporting tools, and multiple payment methods. This investment round will accelerate the company’s mission to streamline and automate payins and payouts for businesses, with customized solutions for things like royalties, revenue share, and business services that are not typically provided by traditional platforms.

With customers including Microsoft, SEGA, X Games, The Snow League, Arnold Sports, AVP, and more, Payment Labs has processed more than $50 million and built a foundation as the premier fintech solution for detangling complicated payment processes through industry-specific compliance and support.

“The Payment Labs leadership team fits our ideal founder profile – which we call Contrarian Technocrat – in terms of their ability to rapidly go from vision to value,” said Garnet Heraman, General Partner of Aperture VC. “Together we envision massive upside with evolving industry trends in global sports competitions, NIL, and the creator economy.”

The funding news follows the recent hiring of Paul Brewer, a former revenue leader for The Sporting News, Rival, and ESL, as Payment Labs’ Executive Vice President of Sales & Sports Partnerships, showcasing Payment Labs’ commitment to the sports space and further embedding itself in the industry.