Balanced, a back-end payment service aimed at online marketplaces, has added an additional USD2m to its USD3.4m seed round (Reports StrategyEye). Andreessen Horowitz supplied the add-on capital to the round, which was led by former PayPal President, Jeff Jordan and also drew investment from Y Combinator and SV Angel.
Graduating from Y Combinator in 2011, Balanced makes it easier for sites to set up double-sided transactions as well as dealing with accounting, fraud, compliance, and currency conversion. The company, which employs 10 people in its San Francisco offices, claims to have grown by 45% over the past two months and expanded its portfolio to 112 online marketplaces.
Barclays has signed contracts with six of the fintech startups that just graduated from its second New York accelerator programme.
Company card killer Pleo has raised $3m in new funding as it prepares for public launch in the UK and Denmark.
Cheques are become less and less common in the UK according to new research from global market research firm Mintel which claims contactless card use has overtaken cheque payments in the UK for the first time.
Payments for digital and physical goods made mobile operating system-based payments platforms like Apple Pay and Android Pay are expected to boom in the next few years according to new analysis from Juniper.