Backpack: Funding, Investors & Team (Oct 2026)
Backpack Payment Technologies, Inc. is a financial technology company that specializes in building API-driven payment gateways for 529 College Savings Plans. The company collaborates with OMB Bank, a Member FDIC, to provide banking services. Backpack focuses on simplifying the process of managing and contributing to 529 accounts, making it easier for families to save for education expenses. The platform integrates various financial services to offer a seamless user experience for its clients.
Backpack has raised $9.0M across 1 funding round on record, the most recent a Seed of $9.0M announced in May 2026.
That round is below the $15M median round size for Financial Services companies tracked on FundedIQ over the last two years.
Backpack Company Profile and Key Stats
Latest funding round on record: May 2026.
Backpack Funding Rounds
Backpack Founders and Leadership Team
Contact details for the Backpack team: 1 has a LinkedIn profile.
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Backpack's latest round of $9.0M is below the median round in Financial Services. Medians cover the last 24 months of disclosed rounds.
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Backpack Funding FAQs
What does Backpack do?
Backpack Payment Technologies, Inc. is a financial technology company that specializes in building API-driven payment gateways for 529 College Savings Plans. The company collaborates with OMB Bank, a Member FDIC, to provide banking services. Backpack focuses on simplifying the process of managing and contributing to 529 accounts, making it easier for families to save for education expenses. The platform integrates various financial services to offer a seamless user experience for its clients.
How much funding has Backpack raised?
Backpack has raised $9.0M across 1 round on record. The most recent is a Seed of $9.0M announced in May 2026.
When did Backpack last raise funding?
Backpack's most recent funding round on record is a Seed of $9.0M, announced in May 2026.
Who founded Backpack?
FundedIQ lists Hafeezah Muhammad (Founder) at Backpack.
Where is Backpack headquartered?
Backpack is based in New York, New York, United States.
How many employees does Backpack have?
Backpack is in the 1-10 employee band.
How does Backpack's funding compare to other Financial Services startups?
Backpack's latest round of $9.0M is below the $15M median round size for Financial Services companies on FundedIQ across 5,751 tracked companies over the last two years.
About FundedIQ's Backpack Funding Data
FundedIQ tracks announced funding rounds and refreshes this profile every week. Round dates, stages and amounts are normalised to a single format, converted to US dollars, and de-duplicated: two records of the same round announced days apart are merged, and two genuinely different rounds are kept apart on the amounts they disclose. Amounts shown are the disclosed figures only — a round announced without a number is listed and excluded from the total rather than estimated.
Employee counts are reported bands, not exact headcounts. Founder and executive names carry the job title on record. Anything we do not hold for Backpack is left off this page rather than filled in.
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