Peppercoin secures $10m in second round funding

Peppercoin secures $10m in second round funding

US micropayments company Peppercoin has secured $10 million in a second institutional round of funding led by venture capital firm Wall Street Technology Partners and including previous investor Pod Holding.

Peppercoin says an additional $2 million was contributed by payments industry investors Total Technology Ventures.

The vendor says a Boston-based institutional investment adviser and several private individuals returned to participate in the round as well.

The new funding comes on the heels of $8 million the company received from a previous round of financing held in August.

Mark Friedman, president and CEO of Peppercoin, says the new investment is substantial and timely.

"Financial institutions and their merchant customers are recognising the benefits of a blend of pre-paid, subscription, pay-as-you-go and post-paid payments offerings for growing businesses in the physical and online world," he adds.

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