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Aldrich Capital invests in payment solutions provider

Aldrich Capital Partners LLC has invested $26 million in Richmond, Va.-based Paymerang LLC, a provider of electronic payment solutions.

This investment will buy out company investors and help Paymerang grow in the procure-to-pay space with new jobs, products, sales channels and operational infrastructure.

The company intends to expand operations in the Richmond metro area and add more than 100 jobs over the next five years.