The Series B round for Witherspoon’s Draper James brand was led by San Francisco-based Forerunner Ventures.
Online supermarket Netgrocer.com has begun accepting electronic checks through the Achex Inc. system.
Online supermarket Netgrocer.com has begun accepting electronic checks through the Achex Inc. system. Using Achex, Netgrocer.com customers can pay online directly from their existing checking accounts, the same way they pay for groceries in the physical world. "The majority of consumers pay for groceries with checks or cash," said Elaine Bolle, president and CEO of Achex. "With Achex, Internet merchants can offer the most popular real world payment method as an alternative to credit card payments. "
Netgrocer.com says it views the Achex solution as a critical part of serving its customers. "In the physical world, our customers are used to paying for groceries by check," said Yoram Evan, CFO and vice president of operations of Netgrocer.com. "To continue to serve our customers effectively we need a check solution. Achex provides a cost-effective, convenient, check-based solution."
Other Achex merchants include Kmart`s BlueLight.com, Bizland and Yakpak.