Peppercoin raises $8M in new funding
biz.yahoo.com
Peppercoin Inc. has raised $8 million in new funding, as it sells software that enables micropayments for downloading music, playing games, feeding parking meters, and other services.
Investors included Allianz Private Equity Partners, Wall Street Technology Partners and original backer POD Holding, according to a survey sponsored by the National Venture Capital Association.
Waltham, Mass.-based Peppercoin previously had disclosed $6 million in total financing since being spun out of the Massachusetts Institute of Technology in 2001.
Peppercoin has 15 employees, according to its Web site.
Earlier this year, SunTrust Banks and Chase Merchant Services agreed to incorporate Peppercoin's software as a payment-processing option for merchants.
Peppercoin has several Silicon Valley competitors, including eBay Inc.'s PayPal subsidiary, which recently has been developing mobile payment technologies; PaymentOne Inc., which had sales of $27 million in 2004.; and Bitpass Inc., which raised $12 million in financing a year ago. |
