Zipmark scores USD1.5m for online payment software

Experiencing greater adoption

Digital payment system Zipmark has raised USD1.5m from Contour Venture PartnersHigh Peaks Venture Capital, New York City Investment Fund, NYC Seed and Village Ventures.

Zipmark says the investment will be used to hire additional staff for its development team. The New York-based firm develops payment software for businesses to manage administrate invoices and digital cheques. The product was in beta mode until last year, after launching in 2010. The company claims its platform is faster than traditional billing systems and removes the chance of cheques bouncing.

“Zipmark has experienced great adoption over the past few months, and this round of funding will enable us to continue and even increase that growth rate” said Jay Bhattacharya, CEO and co-founder of Zipmark. “Our team has doubled in size and we look forward to beating that growth in the remainder of 2013”

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