eBillme™ Completes $12 Million Financing
Round
Proceeds position eBillme to further meet the demand for online cash
payment solutions and expand delivery of its online banking eCommerce
solution
WILMINGTON, Del. (Business Wire EON/PRWEB ) September 17, 2008 --
eBillme,
the only cash based alternative payment option that leverages online
banking for eCommerce checkouts, online and in the call center,
announced that the company has raised $12 million in a recently
completed round of financing. The financing was led by the
multibillion-dollar, global venture capital firm, Canaan
Partners, as well as existing investor Celtic
House Venture Partners, investors in software and Internet services
companies. Maha Ibrahim, General Partner at Canaan Partners, and
Pierre-André Meunier, P.Eng., Partner at
Celtic House, will join eBillme’s Board of
Directors.
“This recent financing represents a
significant milestone for eBillme and comes at a time of exciting
company growth,” says Marwan Forzley,
President and CEO of eBillme. “We will use
this funding to further our merchant acquisitions and our expansion into
new markets and consumer segments. Canaan Partners is highly regarded in
the investment industry, and we are excited to work with them to drive
even greater growth for our company.”
eBillme transactions occur securely, bank to bank, with no personal or
financial information required or transmitted over the Internet. Because
shoppers pay directly from their online bank account, they don’t
release any financial information online. This helps consumers manage
their spending and debt, while better safeguarding themselves from
identity theft and fraud risks. eBillme’s
buyer protection program takes security a step further. Provided at no
cost to shoppers and retailers, the buyer protection features have the
same or a better level of buyer protection than premium credit cards.
Protection features include a return guarantee, price guarantee,
in-transit protection, and fraud protection. Consumers can shop with
confidence knowing their eBillme transaction is guaranteed and protected.
“eBillme’s
technology addresses a growing demand for truly secure, online payment
methods that aren’t credit based,”
says Maha Ibrahim of Canaan Partners. “eBillme
allows consumers to shop online with confidence that each transaction is
protected, and it gives merchants an opportunity to capture new sales.
As the alternative payments industry continues to grow, we are excited
to help eBillme continue their market leadership and expand their
payment offering across multiple channels.”
About eBillme™
eBillme is the only online payment solution that extends the convenience
of online banking to the merchant’s checkout,
reducing the security risks of shopping online for both consumers and
retailers. No financial data is exposed to the retailer, and the payment
transaction is securely transferred from the customer’s
bank to the retailer’s bank. Consumers can
shop online, by catalog or through call centers, and pay cash for their
purchases at their bank, credit union, or bill pay portal, with the
security and convenience of online banking. eBillme allows retailers to
access the over 84 million Americans who use online banking. For more
information, please visit us online at www.eBillme.com
or our blog, http://blog.ebillme.com/.
About Canaan Partners
Canaan Partners invests in visionary entrepreneurs and provides them the
networks, insights, and operational guidance required to build
high-performance technology and healthcare companies. For 20 years, they
have taken an active and committed role in the companies in which they
invest, and have completed more than 69 mergers and acquisitions and 53
IPOs. With $3 billion under management and a worldwide footprint, the
firm's technology team is committed to catalyzing the growth of
innovative companies in the digital media, communications & mobility,
enterprise, and clean tech industries. Among its successes are
DoubleClick, the leading online advertising solution; Match.com, the
most popular online dating site in the world; CommerceOne, the company
that pioneered B2B ecommerce; Capstone Turbine, first to market and
world's leading producer of commercially viable microturbine energy
products; and VOIP equipment supplier Acme Packet, which was one of the
top ten performing tech IPOs of 2006. Other Canaan technology
investments include Active Networks, BharatMatrimony, Blurb, Cortina,
GroundWorks, ID Analytics, Tremor Media, and SuccessFactors. Canaan has
offices in California, Connecticut, India, and Israel. For more
information visit: www.canaan.com.
About Celtic House Venture Partners
Celtic House Venture Partners is a leading venture capital firm focused
on early-stage investments in information and communication technology
companies in Canada and Europe. Since 1994, Celtic House has funded over
60 companies and committed over $500 million—more
than 70% to concept-stage start-ups—and has
completed over 20 mergers and acquisitions and IPOs. Its investments
have been among the most successful in their respective regions:
Cambrian Systems, Skystone Systems, and Extreme Packet Devices in
Ottawa; PixStream and Sandvine in Waterloo; Abatis Systems and OctigaBay
Systems in Vancouver; and Bookham Technology and nCipher in the UK.
Celtic House is currently working with more than 20 portfolio companies,
including Camilion Solutions, Cavendish Kinetics, Diablo Technologies,
eBillme, Fresco Microchip, Morega Systems, RedMere Technology, Third
Brigade, VirtenSys and ViXS Systems, from its offices in Toronto,
Ottawa, and London, UK. For more information, please visit www.celtic-house.com.
See the original story at: http://eon.businesswire.com/releases/ebillme/online/prweb1347194.htm
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