Flow Capital has made a US$6.0 million investment in Aliaswire, a Massachusetts payments technology company that sells cloud billing and payments software to vertical SaaS platforms, financial institutions and enterprises.
The Toronto lender, listed on the CSE as FW, said the investment would provide working capital to support Aliaswire's growth initiatives and refinance existing debt.
Aliaswire, led by Chief Executive Jed Rice and based in Burlington, Massachusetts, sells DirectBiller, a cloud platform for billing, invoicing, self-service and payment operations used by enterprises and financial institutions. DirectEmbed, launched in June 2025, lets software companies add billing, invoicing, payment acceptance and reconciliation inside their own products, delivering DirectBiller's capabilities through APIs and modules aimed at vertical SaaS platforms. Aliaswire has said DirectBiller is used by organisations including Citi, US Bank and BMO.
The company said its technology has processed more than $100 billion of payment volume and more than 1 billion transactions for more than 7,000 customers, with 95 per cent customer retention. Aliaswire's billing software is used for invoices and collections that include tax bills, insurance copays, tuition, property management fees and utility accounts.
The investment follows a $6 million first institutional round in June 2021, led by Stage 1 Ventures, in which Scott Carmel, Operating Partner at Stage 1, joined the Aliaswire board. Aliaswire said at the time that the equity was the first institutional investment in its 13-year history and would be used mainly to hire in product engineering, customer care, account management and business development. No later equity round has been disclosed.
Flow Capital, founded in 2018 and led by Chief Executive Alex Baluta, is a publicly listed provider focused on flexible growth capital and alternative debt solutions. It finances revenue-generating companies, including venture-backed and founder-owned businesses, in the United States, the United Kingdom and Canada, with tickets of $1 million to $15 million.