Our Story

It started with eating dogs and burgers.

Marshall Greenwald and Jared McClure sat down over casual conversation and lunch several years ago. Marshall pitched Jared on merchant processing services for his company and Jared pitched Marshall on marketing services. The two became friends and clients of one another that day. Fast forward a few years... Marshall and Jared got back together to discuss how they could solve a problem posed by a barter group of local merchants: The group was using an alternative currency (paper with a digital ledger), but they were running into issues with volatility, merchant acceptance, lack of utility, regulatory uncertainty and lack of an effective way to exchange into and out of their currency. Jared and Marshall combined concepts from their respective models to develop a platform that could accept more payment options including:

▶ Traditional (using local fiat currency)
▶ Non-fiat (using an alternate currency)
▶ Hybrid (a combination of fiat and alternate currencies)

As it turns out, cryptocurrencies, as a proposed form of payment, share the same problems the merchant group had identified. Once Jared and Marshall had solved for the acceptance of alternate (non-fiat) currencies, they could apply the same  economic principles and solutions to cryptocurrencies. Thus, CrayPay was born in January of 2015.

Six months later, the team launched the first version of the product (based on a centralized server) and in October they landed their first national account. By January  of 2016, they had 85 national merchants on board and were expanding rapidly.

Realizing that their solution was perfect for the blockchain, they hired more developers in February of 2018 and got to work moving their platform from a centralized server to a blockchain implementation using DApps.

FOUNDERS

Marshall Greenwald, CEO

Marshall has more than 16 years of experience in payments. Using his strong technical skills and extensive payment industry network, he is responsible for CrayPay’s robust growth to date with more than 160 retailers and 10,000 users.

Jared McClure, COO

Jared provides the leadership, vision and management to ensure proper operational controls throughout the company. He oversees the 8-person development team and is responsible for implementing systems to grow CrayPay while ensuring financial strength and operating efficiency.

TIMELINE HISTORY

2015
  1. CrayPay Founded (January)

    First national brand approval and contract
    (October)

    Filmed very first marketing video
    (November)

    Expanded marketing video
    (November)

    Expanded software development
    (December)

    Raised $150,000 in first stage seed round
    (December) 

2016
  1. 85th national brand approval - Amazon.com (January)

    Exploring relationships with sales channel partners
    (February)

    Patent pending status
    (March)

    Raised $100,000 in second stage seed round
    (March)

    Hired additional software developers
    (April)

    91st national brand approval - American Airlines
    (May)

    Trademark approval
    (June)

    Secured Fixed Rate Processing in 160+ currencies with exclusive partnership
    (June)

    Closed $250,000 in third stage seed round
    (October)

    Private Beta Launched
    (December)

2017
  1. Raised $435,000 in 4th stage Family and Friends Round (January)

    110th National Brand Approval - American Eagle (March)

    Secured $2.8M in Financing (April)

    Public Launch of iOS App (April)

    Public Launch of Android App (September)

2018
  1. Brand approval with The Home Depot (March)

    Brand approval with Chipotle (March)

    Brand approval with Autozone (March)

    Brand approval with The Children's Place (March)

    Brand approval with Gymboree (March)

    Team grows by 8 - adding additional talent to CrayPay brand (April)