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Acceleron Bank
Charlestown, US · Founded 2011 · Incorporated in Vermont · 15 employees on LinkedIn · 4 known investors
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Acceleron builds software that enables community banks and credit unions to offer foreign exchange services and conduct cross-border payments through a correspondent banking marketplace, generating non-interest income without requiring custom development work.
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 · 4
RevUp Capitallisted by RevUp CapitalBoston
How we know: RevUp Capital's portfolio page · Not right? Tell us
Holt XchangereportedMontreal
How we know: funding news · press coverage · Not right? Tell us
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.
Related companies · 8
WiseWise 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.
SoFiSoFi Technologies is a digital personal-finance company offering student and personal loans, mortgages, investing, banking and credit cards through one app; it went public on the Nasdaq in 2021 via SPAC.
TipaltiTipalti is an AI-powered finance automation platform that automates accounts payable, mass payments, procurement, and employee expenses for growing companies. The platform serves businesses seeking to streamline financial operations and reduce manual finance tasks.
Papaya GlobalPapaya 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.
StripeStripe provides financial infrastructure for businesses to accept payments, offer financial services, and implement custom revenue models across international markets in 135+ currencies.
RapydRapyd is a directly-licensed card acquirer with Visa and Mastercard across multiple regions, offering payments, payouts, and multi-currency business accounts through a single platform that also supports a range of payment methods including stablecoins. Its partner programme serves referral agents, consultants, ISOs, PayFacs, and ISVs working with merchants in industries such as iGaming, hospitality, retail, eCommerce, and forex.
CheckoutCheckout.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.BILL 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 working in the same space as Acceleron Bank.
In the news
Frequently asked questions
- What does Acceleron Bank do?
- Acceleron builds software that enables community banks and credit unions to offer foreign exchange services and conduct cross-border payments through a correspondent banking marketplace, generating non-interest income without requiring custom development work.
- Who are Acceleron Bank's investors?
- Acceleron Bank's investors include CORI Innovation, RevUp Capital, Vermont Center for Emerging Technologies (VCET), Holt Xchange.
- 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.