Kirva Perumalsamy co-founded Rollfi in 2021, during the heyday of cryptocurrencies, to help businesses process their crypto payroll.
When cryptocurrencies crashed, Rollfi pivoted to being an embedded payroll company, partnering with financial services companies to provide payroll and benefits services to their customers.
The pivot was successful enough to acquire Rollfi for an undisclosed amount. Priority Tech Ventures is a division of Priority Technology Holdings, a publicly traded payments and banking technology provider. Rollfi had raised $3.25 million before exiting. Speaking to TechCrunch, Perumalsamy said the company was in the midst of raising capital when the opportunity to sell arose.
“We realized that if we could combine the focus, speed and tenacity of a startup with the organizational strength of a preferred company, we would be even more successful in winning this market.”
He said the entire team will remain with PTV after the transaction and will continue to be an independent organization under Priority.
This article has been updated to clarify PTH features and Rollfi features.