Friday, August 13, 2010

WePay Gets $7.5M

Palo Alto-based WePay, a developer of an online payment service aimed at groups, said today that it has raised $7.5M in a Series B funding round. The round was led by Highland Capital Partners, and also included August Capital, its existing investor. The firm said the funding will go towards marketing, building out operations, and for engineering infrastructure. Other investors in the firm included PayPal's Max Levchin, Ron Conway, YouTube's Steve Chen, and form Intuit CTo and CFO Eric Dunn. Peter Bell of Highland joins the company's board as part of the funding. More information »