The company plans to develop the technology and market reach of its online billing and payment application for B2B as well as retail companies.
The funding is from investment companies Safeguard Scientifics and Star Vest Partners, which specialize in financing ecommerce and technology companies. It brings to USD 40 million the total amount of outside investment in Transactis.
Transactis provides internet or cloud-based software, BillerIQ, for online bill presentment and payment services that companies can use to process electronic invoices and payments with business customers or individual consumers. Transactis also offers DocumentIQ, an internet-based digital document presentment and storage system.
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