isaac10 GmbH, a Leipzig, Germany-based recurring payment service, raised venture capital funding.
The amount of the investment, made by High-Tech Gründerfonds (HTGF), was not disclosed.
The company intends to use the funds for the technological advancement of its technology and its market entry.
Created in 2014 by Christian-André Knips (CEO) and Tilo Dietrich (CTO), isaac10 develops an API-interface for automation of recurring payments in European countries. The company provides a management solution for SaaS-models and all those based on recurring payments including Cloud Computing, insurers, telecommunications provider, publishers and those in the field of the sharing economy. It acts as a payment service provider (PSP) in order to implement SEPA-, Paypal- and credit card transactions and as a recurring billing service.