Paystand Secures $6M Series A Funding

Paystand, a Serra Capital II portfolio company, announced in November a $6M Series A funding round. BlueRun Ventures led the round, with participation from Serra Ventures.

Paystand is a next generation payment & eCommerce checkout system that enables any organization to receive money in their website, social network, or web application without transaction costs. They are the first multi-payment gateway that accepts credit cards (Visa/MasterCard/Amex/Discover), eCheck (ACH/Dwolla), and eCash (Bitcoins) with 0% transaction fees.

The money raised will be utilized by scaling its accounts receivable systems and launch a new free accounts payable product line.