WePay Nets $10 Million Investment
May 7, 2012
WePay, a Palo Alto, Calif.-based technology provider that enables online payment, said Friday it has closed a $10 million financing round led by Ignition Partners . The company launched two years ago as a group payments system but evolved into a full suite of tools that merchants can integrate into their Websites to collect online payments. WePay says the proceeds of the investment round will be used to scale the company’s technology and add headcount.
“At Ignition we look to invest in companies that are innovating and that are obsessed with delivering a superior customer experience,” said Ignition’s Chris Howard, who will join WePay’s board of directors. “WePay is a part of a huge disruption happening in payments right now. There’s a massive tailwind fueling the company’s growth and we are excited to help.”