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.


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Just as the atom bomb was the weapon that was supposed to render war obsolete, the Internet seems like capitalism’s ultimate feat of self-destructive genius, an economic doomsday device rendering it impossible for anyone to ever make a profit off anything again. It’s especially hopeless for those whose work is easily digitized and accessed free of charge.

— Author Tim Kreider on not getting paid for one’s work