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December 19, 2006

Payment services firm closes $3m

Bill presentment and payment services firm Transcepta LLC has closed a $3m second round of funding led by Tech Coast Angels. Officials at the Aliso Viejo, California startup said the money would be directed at infrastructure and marketing.

By CBR Staff Writer

The company’s first round of funding was in 2005, the year of its founding, and was also led by Tech Coast Angels.

Transcepta’s services help B2B firms send invoices electronically – via an ACH bran transfer of credit card – or via mail. The service integrates seamlessly with virtually any accounting package. Current customers are using systems including QuickBooks, Great Plains, Profit 21, and various homegrown systems.

Unlike other vendors’ invoicing solutions, that often require weeks or even months of onsite installation, Transcepta boasts that its service can be implemented over the web in half an hour.

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