WePay, a Palo Alto, CA-based payments provider for online platforms, raised $40m in Series D funding.
The round was led by FTV Capital with participation from Rakuten, Highland Capital Partners, August Capital, Continental Investors and Ignition Partners. In conjunction with the funding, FTV Capital’s Chris Winship joined WePay’s board of directors while Rakuten’s Oskar Miel joined WePay’s advisory board.
The company, which has raised $75m in total, intends to use the funds to expand its services globally.
Led by Bill Clerico, CEO, WePay provides payments as a service for online platforms and marketplaces including Care.com, Constant Contact, FreshBooks, GoFundMe and Meetup.