Tango Card, ZooZ, GoCardless Raise Investment Capital (April 30, 2013)
Several payment startups have reported funding rounds in recent days, among them are, Tango Card, ZooZ and GoCardless.
Tango Card, a Seattle-based provider of a multipurpose gift card that can be used to buy closed-loop gift cards from national retailers, donate to charity or cash out remaining balances, this week announced a $4.1 million series B round of funding led by Allegro Venture Partners.
The capital will go toward the first stages of the company’s international expansion and to continue building out its existing sales and marketing efforts, according to David Leeds, founder and CEO of Tango Card, which has more than 80 customers covering 600,000 users. Floodgate, Swan and Legend Ventures, and existing investors Western Technology Investments and Innovation Endeavors also contributed to the round.
ZooZ, an Israeli company offering a secure payment platform for e-commerce Websites and apps, last week closed a $2 million Series A financing round led by XSeed Capital and including previous investors Lool Ventures and Rhodium. ZooZ will use the latest round of funding to add product functionality, increase traction with retailers, solidify new partnerships and build its presence in the global payments market.
“By focusing on creating a superior consumer checkout experience that ultimately leads to better conversion for retailers and developers, we’ve been able to clearly differentiate ourselves from the competition while attracting investors, partners and customers, alike,” said ZooZ Co-Founder and CEO Oren Levy.
Meanwhile, London-based online payments company GoCardless, which helps businesses establish automatic bill pay and recurring payments, among other services, raised $3.3 million during a Series A round of funding earlier this month, led by existing investors Accel Partners and Passion Capital.