Tagged: electronic payment

Hardware developer for bitcoin CaseWallet closed on $650K


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Investors buy $185 million worth of Mozido’s equity


mozido Mozido disclosed placing 46% of its $400 million non-brokered equity issuance. Based on the filing, four investors started to subscribe to the $185 million first close almost two weeks ago. The offering will remain open until October 2015 while an additional $215 million worth of securities is sold to investors. Until this disclosure Mozido had raised an estimated $103.47 million in unregistered securities via one previous financing round.

Mozido develops and markets a platform of cloud-based, white-label, mobile payment, shopping and marketing solutions with real-time customer analytics. The company is backed by MasterCard, Wellington Management, H.R.H. Sheikh Nahyan bin Mubarak Al Nahyan and Tiger Management.

The company was registered in 2013 and has its headquarters located in Austin TX. Mozido elected to keep its revenues undisclosed.
The executive team includes Daniel D O’Malley, David Luther, Garrison Smith and Mike Love.
The board of directors includes Adolfo Salume, Gregory Corona, Peter Smith, Randi Zuckerberg, Robert Selander and Robert Turner.

The company has raised an estimated total of $288.47 million via private unregistered security offerings.

Offering recap
Status: First close
Company: Mozido
Industry: Other
Amount offered: $400 million
Amount placed: $185 million
First sale: 10-10-2014
Data as of: 10-22-2014

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Openbucks raised $500,000 at first close on April 7th


openbucksOpenbucks reported launching a $1 million convertible promissory note private placement. According to the filing, 50% or $500,000 was sold to three backers on April 7th. $500,000 in additional funding can be raised before April 2015 based on the placement’s structure. One prior placement was closed under regulation D by the company and raised an estimated $6.3 million. The company is backed by Greycroft Partners a seed to early stage investment firm investing between $500,000 to $5 million per investment round.

The company is enabling customers to use their retailer gift cards (like Subway) to pay for goods online. The company’s payment platform integrates directly with Internet merchants on their payment options page so that they can accept gift cards in addition to other forms of payment at checkout.  The company currently targets game publishers but plans to expand its offering to other online merchants, including social networks and online commerce companies. There is not service fee charged by the platform on the customer side.

The company, headquartered in San Jose CA, is led by Marc Rochman (CEO). Openbucks kept its revenues undisclosed.
The executive team includes Ryan Gilbert.
The board of directors includes Sumant Mandal.

The company has raised an estimated total of $6.8 million via private unregistered security offerings.

Offering recap
Status: First close
Company: Openbucks
Industry: Other Technology
Amount offered: $1 million
Amount placed: $500,000
First sale: 04-07-2014
Data as of: 04-21-2014

Splyt Easy reached its $100,000 fundraising target


splyt EasyBased on information filed with the SEC, Splyt Easy reported the successful subscription and close of its non-brokered equity financing. One financial backer invested $100,000 three weeks ago. No offering was previously initiated by the company under a registration exemption with the SEC.

The company is developing a mobile application (app) to streamline the payment process for the restaurants and bars. Despite the app not being released yet, it seems the company will be offering establishments features like custom user interface, advertising and reward programs, and an analytical platform for businesses to know their customers.

There are other companies offering similar services such as CheckMate by Parametric Dinning and Zuldi which specifically features a tab splitting option. Both companies raised funds in 2013.

The company was registered in 2013 and has its headquarters located in Scottsdale AZ. Revenues on or below $1 million were reported by Splyt Easy.
The executive team includes Michael D Sutton.

Offering recap
Status: Completed
Company: Splyt Easy
Industry: Other Technology
Amount offered: $100,000
Amount placed: $100,000
First sale: 03-17-2014
Data as of: 04-10-2014

Stealth Bitcoin wallet startup raises $50,000 in seed equity


Bitcoin trading on Mt. GoxWhile Bitcoin‘s value increased by 148% over the last 30 days and by 800% over the last 6 months on Mt.Gox according to bitcoinity.org, a statup company called Bitwal is working toward making the virtual currency widely accepted in the real world.

The company, which successfully completed a $50,000 equity offering with one investor, is working toward launching a debit card for Bitcoin. The card is linked to an account where users can load their Bitcoins. Once loaded the card can be scanned to transfer payments, used as a debit card to withdraw money at ATMs, or processed by non-Bitwal participating retailers. It is unclear however, how the company will deal with Bitcoin’s recent wild valuation swings which may affect its broad acceptance. Hopefully the card will be able to be loaded on Coin as well.

The company, headquartered in San Francisco CA, was founded in August 2013. The executive team includes Carl Hilsz, Brian Santos, and Lowell Ness.

Offering recap:
Status: Closed
Company: Bitwal
Industry: Other
Amount offered: $50,000
Amount placed: $50,000
First Sale: 11/22/13

Stealthy payment platform completes $500,000 mezzanine financing


Clinkle successfully closed its $500,000 unsecured Class A convertible promissory note offering which was initiated last month. A single investor subscribed to the non-brokered placement. The investor is believed to be Sir Richard Branson. The company raised an estimated $25 million in seed funding this year.

Clinkle is in stealth mode and is said to be developing a platform to modernize the way people transact. The company is planning to introduce its payment platform next year and is developing iOS and Android applications.

Lucas Duplan (Chief Executive Officer) leads the San Francisco CA based company which was registered in 2012. Clinkle elected not to disclose its revenues.

Offering recap:
Status: Completed/Final close
Company: Clinkle
Industry: Other Technology
Amount offered: $500,000
Amount placed: $500,000

Payment processing system for restaurants announces first close of its mezzanine offering


A first close of $100,000 was initiated by Parametric Dining on its fundraising effort started this month. 40% of the $250,000 non-brokered mezzanine offering was placed with three investors. The private placement will remain open for a year while an additional $150,000 is raised by the company. One prior placement was closed by the company raising an estimated $250,000.

The company developed and markets “CheckMate” a pay-at-table and guest management solution for the restaurant industry. CheckMate is a mobile hardware and software solution that allows patrons to select items, rate them and swipe a card to pay. The intuitive tablet allows restaurant owners to access real-time information and deep analytics to know customers and tailor loyalty offerings. The solution integrates with the point of sale (POS) system.

Other companies are in the market with related applications or solutions. Zuldi launched back in June a $1 million mezzanine offering. It developed an iOS application (app) for hospitality industry’s patrons to pay and even split their tabs using their mobile device. The payment processing system is integrated via cloud with the main global POS systems.

Geoffrey “Geoff” Johnson (President and CEO) leads the Philadelphia PA based company which was registered in 2012. Parametric Dining elected not to disclose its revenues. The executive team includes Jonathan Fiene (CTO) and Kate Savarise (COO). The board of directors includes Jason Halpern.

Offering recap:
Status: First close
Company: Parametric Dining
Industry: Other Technology
Amount offered: $250,000
Amount placed: $100,000

Provider of credit card storage as a service completes $300,000 financing


Spreedly, Inc. successfully raised $300,000 from one investor via a non-brokered equity placement. This is the first known US private placement completed by the company. The investor might well be E-Merge SA a Belgium based investment firm focused on early stage financing.

Spreedly offers credit card storage as a service, i.e. a cloud based credit card storage vault that allows users to work with one or multiple payment gateways over time or simultaneously. The company offers a subscription which supports 49 payment gateways in 71 countries. Three subscription plans are available which allow the users to store a limited number of credit cards: 25,000 for $150 per month, 100,000 for $500 per month and 500,000 for $1,500 per month.

The company, headquartered in Raleigh NC and founded in August 2007, is lead by Justin Benson (CEO), Nathaniel Talbot (CTO), John Carlin and Christian “Duff” O’Melia.

Mobile payment solution for the hospitality industry unveils $1 million mezzanine offering


Zuldi Co. hit the market placing 2% of its $1 million mezzanine private placement with one investor. The investor might well be the accelerator Tech Wildcatters. The non-brokered offer will be on the market for a year. This is the first known US private placement initiated by the start-up.

The company developed and markets an iOS application (app) for hospitality industry’s patrons to pay and even split their tabs using their mobile device. The payment processing system is integrated via cloud with the main global point of sale (POS) systems.

Zuldi, headquartered in Las Vegas NV, was founded by Hartej Singh Sawhney (CEO) in March 2012. The executive team includes Gal Dolber (CTO) and Amrit Judge (Business development).