WePay is a payment tool that allows users to instantly create accounts for anything got VC funding

By Vineet at December 23, 2009 | 9:14 pm | Print

What Company Is Offering:

WePay will reduce the problem of those people who want instant transaction of their pay deals.It is a payment tool that allows users to instantly create accounts for anything.These accounts provide electronic billing and collection through echecks, credit cards, and paper checks, and enable transparent spending through WePay debit cards, online bill pay, and electronic transfers.Payments from bank accounts and credit cards are limited to $2,000 per transaction. There is no limit on transactions between members, nor on paper checks sent from WePay’s bill-pay service.

How Much It Got From VC Funding:

It has got $1.65 m of venture fundingwhich is led by August Capital and several other angel investor.. WePay makes it easy to collect money electronically, and to track how much group members have paid and how much each still owes. WePay is not a collection agency, and it cannot force group members to pay anything they do not want to pay.

About VC:

August Capital’s six partners — Marquardt, Johnston, Andy Rappaport, David Hornik, Vivek Mehra and Howard Hartenbaum — have more than a century of combined venture and operational experience. Together they manage $1.3 billion and have invested in more than 75 companies across the technology spectrum.

From its inception, August Capital has funded an extraordinary group of entrepreneurs who have built significant, long-term value across the full range of information technologies. The companies that August Capital’s partners have backed represent an aggregate market capitalization of well over $250 billion, generate in excess of $75 billion in annual revenue and employ a quarter of a million people around the world.

More at:http://www.augustcap.com/

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