Earthport financials improve as funding confirmed

Earthport financials improve as funding confirmed

UK payments outfit earthport has confirmed receipt of additional funding of £1.879 million and says it expects to receive a further £2 million of investment by 31 March 2004.

News of the funding comes as the vendor reports its highest ever monthly revenues at £129,108 in January, up 20.2% on December 2004.

Earthport has also released a new managed batch payment service for merchants. Using batchPay, merchants can effect multiple international payouts in a single batch at a discounted fixed price per transaction.

Says earthport: "Initial reaction from merchants suggests that there is a strong demand for this service."

The company says it will release a fuller trading statement in March 2005, together with the interim resuls to December 2004.

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