Banks, cable companies, and utilities all want to get rid of their paper bills and get customers on their electronic billing systems. Just as there were back-office billing providers for the paper era, there are now back-office electronic billers. A company in Charlotte, North Carolina called Transactis is one of them, and it just raised a $2.5 million round led by New York City-based Metamorphic Ventures. CEO Joe Proto and other existing shareholders also participated in the round.
The round is an extension of a $3 million series C the company raised last year, and brings the total capital raised to $10.5 million.
Transactis works primarily with banks and payment processors to take over the whole e-billing process for them, from presenting the bills via email to collecting the cash. More and more consumers are opting to go paperless (it’s the green thing to do), and companies save on the paper, printing, and postage costs.
Email billing is a growth business, and Transactis is carving out a nice little niche for itself.
Transactis works with banks and their merchants to transform traditional paper-based billing, payment, and coupon transactions to smarter electronic interactions that are more efficient and cost-effective. Since 2001, Transactis has been a leading provider of Electronic Bill Presentment & Payment (EBPP) tools including BillMail and BillerExpress. These solutions give small and medium sized businesses the ability to electronically distribute invoices and collect payments, without the investment typically made by large organizations. With its September 2010 acquisition of Offer IQ,...
Metamorphic Ventures is a venture capital fund that invests in start-up and early-stage businesses exclusively in the digital media and transaction technology sectors. These technology companies tend to be cutting edge leaders in a highly focused market. Our digital media practice is primarily directed toward online and mobile advertising technologies, analytics, and tech enabled services. Our financial technology practice is primarily based on transaction processing services. We assist our entrepreneurs in many aspects of the venture needs, often from the founding...
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