Charlotte-based Payzer, (www.payzer.com) which sells a mobile payment platform to businesses and individuals, has closed a $4 million B round led by Grotech Ventures, Route 66, and with participation from IdeaFund.

It is the first later stage investment and first Charlotte investment for IdeaFund, (http://ideafundpartners.com/) said founding managing partner John Cambler.

The company disclosed the raise, which it closed Tuesday, at the CED Tech Venture Conference in Raleigh.

Cambler said “It is a bit later than usual investment for us. But their Vice President of sales and operations Chris Halligan, is a member of our board and someone we think highly of.” Also, Cambler said he and Don Rainey of Grotech invested together in a prior company and “He kept up appraised of Payzer’s progress.”

Cambler said the key thing about Payzer is its focus on a specific vertical, home service contracts, primarily with HVAC. It’s a good strategic move.”

The company was founded by Joe Giordano and Doug Little and is one of a number of Fintech startups located in Charlotte, which is a major banking center.