Prime Highlights: 

RubyFive offers instant fund settlement similar to wire transfers, but at a lower cost and with wider accessibility for businesses. 

The company was founded by Lori Burns, a veteran with over 20 years of experience in major financial institutions such as Wells Fargo, Bank of America, and AvidXchange. 

Key Background: 

RubyFive, a newly launched fintech startup based in Charlotte, is poised to redefine business payments by offering instant, cost-effective, and supplier-friendly solutions. Founded by Lori Burns, a seasoned banking veteran with over 20 years of experience, the company aims to streamline transactions, optimize cash flow, and enhance vendor relationships. 

Launched in early March 2025, RubyFive focuses on real-time payments, embedded finance, and simplifying financial processes for businesses. Burns, who previously worked at prominent financial institutions such as Wells Fargo, AvidXchange, and Bank of America, recognized the need for a more efficient and affordable payments system. She saw an opportunity to combine her expertise with the emerging real-time payments trend in the U.S., which allows funds to settle instantly—much like wire transfers, but at a lower cost and with wider accessibility. 

One of the key features of RubyFive is its seamless integration with accounting systems, enabling businesses to handle payments directly without the need for third-party intermediaries. This not only keeps costs down but also allows suppliers to receive payments instantly, often at no additional cost. The platform also automates transaction postings and reconciliation, reducing administrative burdens and enhancing financial accuracy. 

RubyFive operates on a subscription model based on payment volume, with pricing details yet to be finalized. The company is targeting businesses that wish to streamline their financial workflows while maintaining control over cash flow. Burns notes that RubyFive is designed to offer more benefits than traditional solutions, providing both buyers and suppliers with greater value. 

To ensure security, RubyFive incorporates built-in fraud prevention features, validating vendor accounts during transactions. The company is already partnering with major financial institutions, including Wells Fargo, Bank of America, and JPMorgan Chase, and plans to expand its bank integrations as it grows. Looking ahead, RubyFive is focused on acquiring its first customers and learning from their needs to refine its offering and explore additional services, such as invoicing.