PayNearMe Raises $10M in Funding

PayNearMe, a Mountain View, Calif.-based company that operates a cash transaction network, raised $10m in funding.

The round was led by August Capital, with participation from existing investors Khosla Ventures, Maveron, and True Ventures.

The company intends to use the capital to continue expanding its platform and further scaling the business.

Led by CEO Danny Shader, PayNearMe just launched PayNearMe Express, a self-service system that allows any business to accept cash remotely for goods or services from consumers via more than 8,600 local 7-Eleven® and ACE Cash Express® stores throughout the U.S. It currently supports payments for rent, collections, lending, and education with additional applications to be released in the coming months.

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