Paydiant Banks $12 Million for Mobile Payments Service
Paydiant, a Wellesley, Mass.-based company that is creating white-label mobile payments solutions, has raised $12 million in a second round. The funding was led by Stage 1 Ventures, with existing investors North Bridge Venture Partners and General Catalyst Partners also participating. The capital will go toward product development, sales and marketing. Paydiant will expand aggressively this year with banks, merchant processors, point-of-sale providers, retailers and restaurants.