Payments startup Tilled raises $11M in Series A

BOULDER — Tilled Inc. raised $11 million in its Series A funding round as it plans to take on payment processors dominating the small-business market.

The Boulder company raised the all-equity round from 19 investors, according to a disclosure to the U.S. Securities and Exchange Commission on Thursday.

Tilled is developing a platform for companies seeking to become “payment facilitators,” or a middle-man between a buyer and seller. Banks and credit card companies have traditionally operated in this space before tech upstarts like Square Inc. (NYSE: SQ) built platforms that provided faster integration.

Currently, payment facilitators fall into two categories. One is “managed…