In a significant development, Trice, the cloud-native API-first platform specialising in direct connectivity for real-time bank payments, has concluded its seed investment round.

Notable contributors to this round include Diagram Ventures, Royal Bank of Canada (RBC), and JAM FINTOP, marking a strategic milestone for Trice.

The secured funds will play a pivotal role in expanding Trice’s real-time payments-as-a-service platform. This extension aims to empower companies to swiftly implement high-impact use cases leveraging the RTP network from The Clearing House and the FedNow Service.

Diagram Ventures partner Steve Schultz said: “Diagram Ventures is thrilled to lead the seed investment in Trice as part of our commitment to fostering innovation in fintech. Together with co-investors JAM FINTOP and RBC, we are confident in Trice’s ability to enable high-impact use cases for real-time payments.

“We look forward to supporting Trice on its journey to make real-time payments a reality”.

Trice’s platform introduces a transformative approach to Account (A2A) transfers and Payouts, offering customers the ability to seamlessly integrate Request-for-Pay (RfP) functionality. This enables instant and irrevocable deposits, facilitates fund loading, balance top-ups, and supports recurring transfers.

Addressing the increasing demand for speed, simplicity, and immediate access in fund transfers, the Trice platform caters to a diverse clientele, including NeoBanks, Digital Wallets, Investing Apps, FinTechs, Lenders, Payment Providers, Banks, and Credit Unions. Significantly, Trice’s technology operates independently of traditional core banking systems, providing a future-proof modern payments gateway.

Noteworthy features include scalable infrastructure, streamlined onboarding, and simplified operations. With Trice’s developer-friendly APIs, companies can deploy solutions and experiences in a matter of weeks, offering the flexibility to utilise Trice sponsor banks or seamlessly connect with their own banking partners.

The latest round of funding positions Trice to continue its commitment to developer-friendly tools, facilitate the expansion of its engineering team to expedite the product roadmap, implement robust bank-grade risk and compliance controls, and strengthen partnerships and enterprise agreements.

The investment underscores Trice’s dedication to advancing innovation and meeting the evolving needs of the real-time payments landscape.

Trice founder and CEO Doug Yeager said: “I am thrilled to announce the successful completion of our seed funding round, led by visionary investors who share our commitment to transforming the future of payments.

“With the support of our investors, we are excited to launch our state-of-the-art real-time payments platform. This investment validates our mission to deliver simple, seamless, and scalable real-time payments capabilities.”