Mobile payments is such a new concept that many in the media continue to inaccurately report what happened this week between Read Now
StrongMail Systems, a developer of e-mail infrastructure software, has secured $9.5 million in new funding. Click & Buy, a payment service and e-commerce storefront provider, has received $23 million.
StrongMail Systems, developer of e-mail infrastructure software, has secured $9.5 million in funding from Globespan Capital Partners, with additional financing from existing investors Sequoia Capital and Evercore Ventures. Venky Ganesan, managing director of Globespan, is joining Strongmail’s board.
The funding will be used to expand company operations to handle the increased demand for its products, a spokeswoman says. The company reported a 51% increase in customers-including Citrix Online, BrassRing and HouseValues-during the fourth quarter.
Meanwhile, venture capital company 3i has invested $23 million in Zurich, Switzerland-based Webpay AG, owner of Click & Buy, an e-payment and storefront provider for online and mobile digital content. The funds will be used to expand Click & Buy’s payment service into the U.S., Canada, South America, Asia and Eastern Europe, the company says.
Click & Buy is used by more than 5 million consumers on 4,000 European merchant web sites. Its e-commerce software enables merchants to partially or completely outsource billing for content, services and physical goods and processing of local currency and credit cards. Click & Buy customers include Apple iTunes and Microsoft Music.