Abrams-affiliated firm said to raise $9.5M

FILE - In this Monday, Nov. 2, 2020, file photo, Stacey Abrams speaks to Biden supporters as they wait for former President Barack Obama to arrive and speak at a campaign rally for Biden at Turner Field in Atlanta. (AP Photo/Brynn Anderson, File)
FILE - In this Monday, Nov. 2, 2020, file photo, Stacey Abrams speaks to Biden supporters as they wait for former President Barack Obama to arrive and speak at a campaign rally for Biden at Turner Field in Atlanta. (AP Photo/Brynn Anderson, File)

Credit: Brynn Anderson

Credit: Brynn Anderson

A financial technology company co-founded by former Democratic gubernatorial candidate Stacey Abrams has raised $9.5 million in venture capital, according to media reports.

Now Corp. of Atlanta raised the funds from Virgo Investment Group of Burlingame, California, and Chicago-based Cresset Capital, according to the industry trade publication TechCrunch. The Atlanta Business Chronicle also reported the investment.

Now Corp. did not respond to a request for comment. Spokesmen for Fair Fight, a voter rights advocacy group founded by Abrams, also didn’t comment.

Abrams is still affiliated with Now Corp., according to TechCrunch, although the publication did not describe the nature of her role with the company.

Abrams’ minority ownership stake in Now Corp. was raised as an issue during her time serving in the General Assembly, because the company contracted with the state government. Abrams said at the time she did not play a role in securing the contracts and avoided conflicts of interest.

The company provides a service, NowAccount, that allows small businesses to pay invoices quicker.

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