ConnexPay, an Atlanta-based fintech startup, has raised $7 million in a Series A fund lead by local VC firm BIP Capital.

According to company representatives, the funding will be used to expand their Atlanta team, further technology development and expand into new markets.

ConnexPay’s technology matches payments from travel buyers to travel suppliers in-real time, eliminating the need for online travel agencies, tour operators and consolidators to pre-fund payments or obtain lines of credit, according to a news release. The startup has also developed applications for other purposes, such as marketplaces, event ticket brokerage and bill payment.

“ConnexPay is transforming online payment acceptance and issuance for the travel industry,” Mark Buffington, co-founder and CEO of BIP Capital, said in a statement. “ConnexPay reduces risk, lowers the cost of accepting cards, and enables unlimited credit and easier reconciliation.”

In addition to the funding, ConnexPay scored a deal with Visa to expand its reach of virtual cards in the travel industry. ConnexPay customers will be able to use Visa single-use virtual credit cards for payments to travel suppliers.

“Collaborating with Visa to help expand issuance of Visa virtual cards provides a substantial boost to ConnexPay,” Bob Kaufman, founder and CEO of ConnexPay, said in a statement. “Our intention is to be a game-changer for travel intermediaries and our successful funding round launches us one step closer to making this mission a reality.”

Founded in 2017, ConnexPay has since been awarded Most Innovative Startup in the travel industry at the Phocuswright conference in 2018. According to Crunchbase, BIP Capital invested in the startup last June, though the amount of that initial investment is unknown.