LevelUp, a Boston, MA-based mobile payment network, has raised an additional $9m in venture capital.
Backers in the funding, which is the second part of a larger round and brings the total raised to just more than $21m, include T-Venture and other individual investors.
The company intends to use the funding for both product development and expansion of its Interchange Zero mobile payment network.
In conjunction with the deal, Randeep Wilkhu, Senior Investment Manager at T-Venture, will join LevelUp’s board as an observer.
Led by Seth Priebatsch LevelUp allows users to pay with their phone, and businesses to pay 0% payment processing fees and re-invest those savings into growing their businesses by attracting new customers and bringing them back. It is available at more than 3,000 businesses nationwide.
The company is currently hiring (https://www.thelevelup.com/jobs).