Hopscotch is bringing a consumer-like experience to B2B payments. The company emerged from stealth with $3.6M in seed funding led by NOEMIS Ventures and Stellation Capital, with participation from Valar Ventures, Valor Equity Partners, 3KVC, Red & Blue Ventures, NfX, Brightlane Ventures, Switch VC, and The MBA Fund.
Small business expectations are changing, and seamless payments are table stakes. Reed Switzer, CEO & Co-Founder of Hopscotch, previously ran small businesses and was very well aware of the intricacies in payments to service providers and getting paid. Decision-makers want and deserve rapid payments, simplicity, and greater connectivity. Hopscotch aims to provide this support and they're starting by providing instant, fee-free payments to small businesses.
Existing tools are needlessly complex with feature overload, limited connectivity between users, lengthy waits to receive funds, and often transaction fees. As an avid user of P2P payment platforms, Switzer knew how seamless a payments experience could be. This left him wondering why there wasn't a better solution in the market for SMBs.
"We're in the infancy of a payments revolution. P2P and B2C transactions have evolved significantly over the past decade, but B2B payments have lagged. Newcomers to the space are battling on the front of utility," said Reed Switzer. "We have the opportunity to build an enduring platform that combines utility and connectivity between users. Hopscotch's stored value accounts and consumer-like business profiles enable us to create an unmatched payments experience. We're excited about what this means for the future of small business and the new ways entrepreneurs will be able to create and retain value."