New York graduate, Zipmark, recently announced they have raised a $1.5 million round to add to their seed funding. Aiming to change the way businesses send and receive payments, Zipmark is bringing the checkbook into the 21st Century by “reducing the amount of time and money it takes to make a check payment, eliminating the possibility for bounced checks and taking all risk out of the equation for payer and payee alike”.
"Zipmark has experienced great adoption over the past few months, and this round of funding will enable us to continue and even increase that growth rate," said Jay Bhattacharya, CEO and co-founder of Zipmark. "Our team has doubled in size and we look forward to beating that growth in the remainder of 2013."
"We backed Zipmark because they developed a real solution to the challenges small businesses face getting paid," says Don Layden, investor and board member of Zipmark. "Zipmark has made it a lot easier for property managers, utilities, and small businesses to get paid faster. The decision to invest more money into Zipmark was an easy one."
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