Zipmark secures funding
Zipmark has raised USD2m in seed funding during a funding round led by Village Ventures and Contour Venture Partners. Other investors in this funding round include NYC Seed, High Peaks Venture Partners, several angel investors, and return investors, the New York City Investment Fund. The New York-based startup will use the cash to develop its mobile payments system to “bring the checkbook into the 21st century.”
Zipmark’s app allows smartphone users to transfer money from their bank accounts to merchants directly, charging vendors 1% per transaction, with a cap of USD5. Smartphones can also use the Zipmark app to pay paper invoices which include QR bar codes.
Earlier this year, Zipmark developed its app within the Fund’s selective 12-week FinTech innovation lab, which aims to support six app developers in the financial services industry.
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