Cleveland-based KeyBank has made a minority equity investment in Qolo, a provider of payment cycle management solutions. The investment expands on an existing partnership between the two companies, solidifying their collaboration on KeyVAM, a virtual account management solution launched by KeyBank in May 2024. While the exact financial terms of the investment were not disclosed, the announcement highlights KeyBank's continued commitment to fintech innovation and its strategic alignment with Qolo's growth.
The investment will further support Qolo's development and expansion of its payment cycle management solutions. KeyVAM, powered by Qolo, has already processed nearly $9 billion in transactions since its launch, demonstrating the significant market demand for the platform's capabilities. This funding round underscores the success of the KeyBank and Qolo partnership and their shared vision for enhancing business and financial institution client experiences.
