The equity financing round for the Houston-based commerce and digital-marketing platform was led by Toronto-based Portage Ventures, the venture capital arm of financial-services conglomerate Power Corp. Other undisclosed existing investors also participated. (The Logic)

Talking point: The funding will be used for growth initiatives such as gaining a firmer foothold in the transportation industry, where the company is trying to position itself as a key player, it said in a release. P97 lets consumers pay for gas or electric-vehicle charging via an app or connected car from gas station retailers, EV charging companies and other firms in the fuel industry. The company’s proprietary APIs are used by many retailers within the North American fuel market, the company said, and it sees potential to expand into the fleet, connected-car and EV-charging markets.