Modo Payments Completes $2 Million Funding Round

Modo Payments, a Richardson-based payment services startup, just completed a $2 million raise intended to support expansion of its platform, the Dallas Business Journal reported.

The Journal said that the bridge round was led by Tim Keith, CEO of Texas Central Partners LLC, the private company that hopes to build the proposed high-speed rail system between Dallas and Houston.

Other investors in this round included Jay Kessing, owner of Marquis, a Plano-based financial technology company, and John Beletic, a partner at private equity firm Oak Investment Partners, the Journal reported.

“Over the course of the year, we’re looking to double on almost every dimension,” Modo CEO Bruce Parker said.

The round also included several unnamed business executives, the Business Journal said.

“Over the course of the year, we’re looking to double on almost every dimension,” Modo CEO Bruce Parker told the Business Journal. “Last year, we did $1.7 million in bookings.”

Modo’s latest round comes after a $2 million seed round completed in 2014, the Business Journal said.

The company was founded in 2010 and employs 20 people at its Richardson office.


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