PromisePay Raises $10M

PromisePay, the world’s most sophisticated, end to end payments engine built for online and mobile platforms, raises $10M.

“We wrote about the company when it landed $2 million nearly a year ago, and this latest round is comprised of a number of strategic investors. Australia’s Carsales led the financing, with participation from Australian VC funds Rampersand and Reinventure, and existing backers U.S.-based Cultivation Capital and Mark Harbottle, co-founder of logo marketplace 99Designs (another notable Australian tech name.)

Founded in 2014, PromisePay targets new digital commerce platforms, such as online marketplaces, where the risk of fraud or disagreement is higher than more traditional online commerce. The startup, which graduated St. Louis’ SixThirty fintech accelerator, claims over 40 customers in Australia and the U.S., including 99Designs-owned web and app marketplace Flippa, home renovation service Hipages and Taskrabbit-like Airtasker.”

Read the full TechCrunch article here.