Transactis Closes $7M Series B Financing Round

Transactis, a New York-based provider of electronic billing, payment, and marketing solutions, has closed a $7m Series B financing round.

The investment was led by StarVest Partners, with participation from previous investors and management.
The company intends to use the funds to accelerate its next stage of development and adoption of its solutions, which are designed to help banks and their merchants transform traditional paper-based billing, payment, and coupon transactions to more efficient and cost-effective electronic interactions.
Its suite includes:
– BillMail, a toll that allows users to deliver bills to customers’ inbox,
– BillerExpress, which provides a set of tools to distribute electronic invoices and accept on-line payments,
– OfferIQ (a Metamorphic Ventures portfolio company acquires last September), which enables retailers to deliver mobile and virtual coupons to consumers nationwide,
– LoyaltyIQ, a platform that enable retailers to distribute virtual coupons to consumers via their mobile phone or social network, and to redeem them through the use of an existing credit or debit card.
In conjunction with the funding, Larry Bettino, StarVest General Partner, joins the company’s board of directors.

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