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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Another gadget you don’t really need. Will not work once you get it home. New model out in 4 weeks. Battery life is too short to be of any use.

— From the fact sheet for a fake product entitled Useless Plasticbox 1.2 (an actual empty plastic box) placed in L.A.-area Best Buy stores by an artist called Plastic Jesus