Bling Nation, a mobile payments provider, has secured $20m in a Series B funding round led by new investor Balderton Capital.
Additional funds were raised primarily from existing investors, including Lightspeed Venture Partners, who led the company’s Series A financing round.
In connection with the deal, teh company has added Roberto Bonanzinga, partner at Balderton Capital, to its board of directors.
Palo Alto, CA-based Bling Nation provides a payment service, designed specifically for local and community financial institutions, which can create a local payment network for their consumer and merchant clients.
The company has a proprietary technology enabling transactions to be processed more efficiently and securely than credit or debit card network.
Bling Nation is currently active in two communities in Colorado: La Junta, Colo.-based The State Bank, began Blinging June 22; Woodland Park, Colo.-based Park State Bank & Trust, which began offering mobile payments to its customers last Oct. 15.