Thursday, July 23, 2009

TxVia Raises $15.5M with Bain Capital Ventures

According to a Press Release, TxVia, Inc., a pioneer in prepaid card processing technology, today announced it has raised $15.5 million in Series C financing, led by new investor, Bain Capital Ventures. Also participating were all current institutional investors, including EspĂ­rito Santo Ventures, High Peaks Venture Partners and Village Ventures. New York City Investment Fund joined as a new co-investor.

The funding follows important milestones for TxVia, including successful large-scale client deployments of the company’s groundbreaking platform-as-a-service (PaaS) delivery model for prepaid card processing. Today, TxVia has more than five million reloadable and nonreloadable cards on file in both B2B and B2C prepaid applications.

What do you think of the investment by Bain Capital to TxVia? What other companies will this influence within the prepaid card arena?

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