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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The problem with the Billionaire Savior phase of the newspaper collapse has always been that billionaires don’t tend to like the kind of authority-questioning journalism that upsets the status quo.

— Ryan Chittum, writing in the Columbia Journalism Review about the promise of Pierre Omidyar’s new media venture with Glenn Greenwald