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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I think the NSA has a job to do and we need the NSA. But as (physicist) Robert Oppenheimer said, “When you see something that is technically sweet, you go ahead and do it and argue about what to do about it only after you’ve had your technical success. That is the way it was with the atomic bomb.”

— Phil Zimmerman, PGP inventor and Silent Circle co-founder, in an interview with Om Malik