EWise Raises $12.1 Million
Aug. 5, 2010
EWise, an online payments and financial management solutions provider, recently announced it has raised more than $12 million from investors in Asia Pacific, Europe and North America. The Denver-based company said it will use the capital infusion to accelerate the U.S. rollout of Secure Vault Payments (SVP), an online banking epayments (OBeP) network; launch a similar network in the U.K.; and expand its online Personal Financial Management division in the UK, China and Asia Pacific. The funding, led by London-based Balderton Capital, is the company’s first step toward establishing OBeP networks globally. Within 3 years, eWise says it envisions 250 million users enabled through existing networks in the U.S. and the U.K. and through planned growth in Asia. Using an OBeP network, customers shopping online are directed to their own online bank accounts via a merchant’s site and pay for goods or services quickly and easily without having to give personal financial details to the merchant or any other third party.