Editor’s note: This article has been updated to give the correct the location of an investor and after the AJC independently confirmed other details.
A financial technology company co-founded by former Democratic gubernatorial candidate Stacey Abrams has raised $9.5 million in venture capital.
Now Corp. of Atlanta raised the funds from Virgo Investment Group of Burlingame, California, and Cresset Capital Partners of Charlotte, North Carolina. The investment was initially reported by TechCrunch and the Atlanta Business Chronicle.
Abrams co-founded the company with longtime business partner Lara O’Connor Hodgson.
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.
Correction: An earlier version of this article gave the wrong location of Cresset Capital Partners. It is not affiliated with Chicago-based private wealth manager Cresset. Chicago-based Cresset and its affiliates did not participate in the funding.
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