Acceleron Bank
Charlestown, US · Founded 2011 · Incorporated in Vermont · 15 employees on LinkedIn · 3 known investors
Acceleron provides API-based international wire and FX payment automation for community banks and financial institutions, letting them bring foreign exchange services in-house and earn non-interest income. Its platform pre-integrates with payment systems like Fiserv Payments Exchange, Aptys, and Braid, and offers an FX marketplace where correspondent banks bid on transactions.
Founders & leadership
DM
Damon MagnuskiNamed on SEC filing
Board
WL
W. Lowell PutnamBoard director
SB
Sarah Beth FelixBoard director
AD
Andrew DillardBoard director
DL
Dennis LormelBoard director
Investors · 3
Reported raises · per SEC filings
Form D private placements$2.8M disclosed across 2 rounds · 2022–2024
▶$1.4MraisedNov 2024 · 30 investors · OtherRule 506(b)
▶$1.4MraisedNov 2024 · 30 investors · Other
Rule 506(b)Officers, directors & promoters on the filing
- W. Lowell PutnamDirector
- Sarah Beth FelixDirector
- Andrew DillardDirector
- Damon MagnuskiExecutive Officer, Director
- Dennis LormelDirector
- Offering amount
- $13M
- Amount sold
- $1.4M
- First sale
- Oct 2024
- Incorporated
- Other, Vermont
- Federal exemptions
- 06b
▶$1.4MraisedSep 2022 · 17 investors · OtherRule 506(b)
▶$1.4MraisedSep 2022 · 17 investors · Other
Rule 506(b)Officers, directors & promoters on the filing
- Andrew DillardDirector
- Damon MagnuskiExecutive Officer, Director
- Sarah Beth FelixDirector
- W. Lowell PutnamDirector
- Dennis LormelDirector
- Offering amount
- $2.1M
- Amount sold
- $1.4M
- First sale
- Jun 2022
- Incorporated
- Corporation, Delaware
- Federal exemptions
- 06b
Source: SEC EDGAR Form D. Amounts as filed; amended filings shown once at their latest values.
Competitors · 7
by search overlap
Wise89 shared keywordsWise is a financial platform offering international money transfers, multi-currency accounts, and debit cards with low fees and competitive exchange rates, serving millions of users globally.
Tipalti75 shared keywordsTipalti offers an AI-powered finance automation platform that handles global accounts payable, payments, procurement, expenses, and treasury operations for businesses. It supports cross-border payments to over 200 countries in 120 currencies and integrates with ERPs, accounting systems, and other business tools, serving industries such as adtech, e-commerce, gaming, healthcare, and software.
Papaya Global65 shared keywordsPapaya Global is a workforce payments platform that runs payroll, employer-of-record hiring, contractor management and cross-border payments for companies employing people in more than 160 countries. Founded in 2016 by Eynat Guez, Ofer Herman and Ruben Drong, it treats global payroll as a payments problem and holds its own payment licences after acquiring Azimo in 2022.
Stripe53 shared keywordsStripe provides financial infrastructure for businesses to accept payments, offer financial services, and implement custom revenue models across international markets in 135+ currencies.
Rapyd53 shared keywordsRapyd offers payment solutions including direct card acquiring, multi-currency business accounts, instant payouts, and stablecoin services for businesses operating across multiple industries and regions.
Checkout44 shared keywordsCheckout.com offers Flow, a hosted payment page that businesses can deploy with a low-code, one-time integration to accept payments online. The page can be customized to match a site's branding for a consistent checkout experience.
Bill.com Holdings, Inc.44 shared keywordsBILL is a unified financial operations platform that automates accounts payable, receivables, and spend management for businesses. The platform processes over $345 billion in annual payment volume and serves nearly 500,000 customers across the US and 130+ countries.
Companies competing with Acceleron Bank for the same Google search keywords, organic and paid, via search-intersection analysis.
Frequently asked questions
- What does Acceleron Bank do?
- Acceleron provides API-based international wire and FX payment automation for community banks and financial institutions, letting them bring foreign exchange services in-house and earn non-interest income. Its platform pre-integrates with payment systems like Fiserv Payments Exchange, Aptys, and Braid, and offers an FX marketplace where correspondent banks bid on transactions.
- Who are Acceleron Bank's investors?
- Acceleron Bank's investors include CORI Innovation, RevUp Capital, Vermont Center for Emerging Technologies (VCET).
- How much funding has Acceleron Bank raised?
- Acceleron Bank has disclosed $2.8M raised across 2 rounds.
- Where is Acceleron Bank headquartered?
- Acceleron Bank is headquartered in Charlestown, US.