Friday, June 26, 2015

PayRange Raises $12M To Payment-Enable Vending Machines

San Jose-based PayRange, a developer of technology which enables vending machines to accept digital payments, has raised $12M in a Series A funding, the company said Thursday. The funding was led by Matrix Partners. PayRange develops a device which plugs into the back of any vending machine, and allows a consumer's mobile app to be used to send payment, including credit cards, using Bluetooth Low Energy (BLE). The startup is led by Paresh Patel.