Successful Entrepreneur and Venture Capitalist, Ollie Howie, and the New Community Transformation Fund have announced an investment in Zil Money, Inc., a burgeoning business-to-business payment platform. The Grand Rapids-based fund, known for its focus on diverse culture in technology companies, solidified its investment in Zil Money last year. Zil Money is dedicated to offering user-friendly and secure solutions for small and medium-sized business owners seeking seamless online monetary transactions on demand. This strategic investment from NCTF will further bolster Zil Money’s ability to serve its extensive customer base in online accounts payable and receivable operations, which currently exceeds 500,000 clients.
Zil Money, founded in 2019 by entrepreneur Sabeer Nelli, is a company on the rise. Prior to Zil Money, Nelli successfully founded TylerPetroleum.com, a Texas-based enterprise that achieved remarkable growth with over $60 million in revenue and a sizable workforce of more than 200 employees. TylerPetroleum.com was recognized as one of the fastest-growing startups on the Inc. 5000 Fastest Growing Private Companies in America list. It was during his time at TylerPetroleum.com that Nelli experienced firsthand the challenges associated with accounts payable, which served as the catalyst for creating Zil Money. In Nelli’s words, I needed a better solution for accounts payable for the business as we were using a variety of payment providers for different vendors. We had so many vendors, which was expensive, and it required a massive commitment of time, so I started to think through how we could streamline things into one online platform. Following positive feedback and rapid adoption within the oil and gas sector, Zil Money officially emerged as a standalone product and company in 2019.
Expressing his enthusiasm for the partnership with NCTF, Nelli stated, I am honored to have NCTF investing in our startup. I’m excited to plant our roots in Grand Rapids and continue disrupting the online payment platform industry with our unique offerings. The alignment between Zil Money’s objectives and NCTF’s focus on emerging firms within financial technology, life sciences, advanced manufacturing, e-commerce, and information technology sectors makes this collaboration a natural fit. NCTF’s investment strategy involves funding ranging from $250,000 to $1 million in these key industries.
Ollie Howie, a recognized serial entrepreneur and Managing Director at NCTF, holds a strong belief in Zil Money’s potential for substantial growth. Having successfully led American Entertainment Worldwide to secure a seed round at a billion-dollar valuation, Howie is optimistic about Zil Money’s trajectory toward achieving similar success. Speaking on the value proposition of Zil Money, Howie remarked, Zil Money has something special with the onlinecheckwriter.com site and Zil Money. Already, the company has serviced thousands of customers and has processed billions in volume, so we’re excited to see the company continue to innovate and expand its financial software to small-and medium-sized businesses. As a spearhead in deal opportunities, Howie’s efforts in identifying and nurturing promising ventures reflect his commitment to fostering economic growth through strategic investments in high-growth startups.
With a vision to reach a $25M fund size within the next five years and establish a portfolio of over seven thriving companies, NCTF and Ollie Howie are steadfast in their mission to champion entrepreneurship and innovation. Ollie Howie encapsulates his ethos for success with the mantra, I want to make an impact for future generations, underscoring his dedication to empowering visionary entrepreneurs. As a trailblazer in the venture capital landscape and a recipient of numerous accolades for his contributions to the business community, Howie’s commitment to supporting the next wave of entrepreneurs is unwavering.
In conclusion, the strategic investment by New Community Transformation Fund in Zil Money underscores a shared commitment to fostering innovation and driving growth within the technological landscape. With a passionate team at the helm and a solid foundation for expansion, Zil Money is poised for accelerated success in revolutionizing online payment platforms for small and medium enterprises. As the partnership between NCTF, Ollie Howie, and Zil Money continues to flourish, the future holds promising prospects for the intersection of entrepreneurship, venture capital, and transformative technology solutions.