Transactis, Inc., a NYC-based provider of electronic billing and payment solutions, closed an $11m Series D financing.
The round was led by Safeguard Scientifics, Inc. (NYSE:SFE), with participation from existing investors including StarVest Partners, senior management and the Board. In conjunction with the funding, Philip D. Moyer, Managing Director, Technology at Safeguard, will be joining Transactis’ board of directors.
The company, which has raised $40m in total, intends to use the funds to expand sales, marketing and client services, as well as accelerating product development.
Led by Joe Proto, CEO & Chairman, Transactis provides a cloud-based electronic bill presentment and payment platform, BillerIQ, which is offered “as-a-service”, enabling businesses to deliver electronic bills, invoices and documents, as well as accept payments online, by phone, and via mobile device. It is used across a variety of industries including property management, healthcare, insurance, public sector, utilities and financial services.
Transactis exclusively sells through its network of resellers, comprised primarily of banks and BPO organizations.