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Based in California, US, and founded in 2022 by co-founders Chetan Kulhari, and David Guo, Vanndelay Industries, Inc. trading as Magic, operates as a…
Based in California, US, and founded in 2022 by co-founders Chetan Kulhari, and David Guo, Vanndelay Industries, Inc. trading as Magic, operates as a financial technology company that empowers businesses to accept subscription payments. In June 2023, the company raised seed funding led by Y Combinator, General Catalyst, Goodwater Capital, Soma Capital, and Hummingbird Ventures. Magic's flagship product is a payment solution that allows businesses to accept payments directly from customers' bank accounts. The company's platform can be integrated into store and checkout, as well as it is compatible with commerce and accounting platforms such as ShopifyPlus, Sage, Xero, and WOO. The platform also helps its users boost annual revenue, reduce processing fees, and decrease fraud and chargebacks.
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