Rutter Raises $27M Series A for Universal Commerce API Platform

Rutter secured $27 million in Series A funding in late March 2022, bringing its total capital raised to $29.5 million. The company is building a universal commerce API, often described as the 'Plaid of commerce,' that provides fintechs and financial services companies with standardized access to commerce data across disparate platforms. By unifying commerce data through a single API, Rutter enables fintech partners to more rapidly build and deploy embedded financial products such as lending, underwriting, and accounting integrations.

The funding will be used to expand the platform's coverage and accelerate onboarding of fintech customers. Rutter's raise occurred during a peak period for fintech infrastructure funding, with approximately 40 fintech deals reported in the same week. The investment underscores the growing importance of data connectivity layers in the embedded finance stack.