Online Payment Provider Nets $2 Million in New Funding

Dec. 19, 2011

Zipmark, a mobile and online payment provider based in New York City, has secured $2 million in seed funding led by Village Ventures and Contour Venture Partners and supported by NYC Seed, High Peaks Venture Capital and the New York City Investment Fund. The company said it provides an online payment platform that offers secure digital checks and brings sophisticated check-processing infrastructure directly to billers and their customers. “Our goal is to modernize the checkbook—to reduce the amount of time and money it takes to make a check payment, eliminate the possibility for bounced checks, and take all risk out of the equation for payer and payee alike,” said CEO and co-founder Jay Bhattacharya, a former senior vice president at Citi Ventures and co-founder of Mobile Money Ventures. “Improving the payment and collection process is a huge opportunity for any company that bills its clients, such as real estate managers and utility companies where inefficient collection practices can be detrimental to the bottom line.”