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June 7, 2012 10:11 pm GMT
At the beginning of the year, Square doubled its retail presence, landing in about 20K outlets nationwide. As Jack Dorsey's mobile payment system continues to find legs, all the major players have been rushing to bring their own solutions to market. Believing mobile payments are the future, Seth Priebatsch (of SCVNGR fame) and team launched LevelUP, a mobile payment and rewards network into beta in July 2011.Since then, the mobile payment network has been growing fast, as it now counts over 200K users and has partnered with more than 3K merchants in Boston, NYC, Philadelphia, Atlanta, Seattle, San Francisco, and more. Today, SCVNGR and LevelUp are adding more coin to their coffers to kick the payment network's expansion into high gear, announcing that they've collectively raised $12 million in funding. SCVNGR's existing investors, including Highland Capital, Google Ventures, Balderton Capital participated in the round, along with new investors Continental Advisors and Transmedia Capital.
Original Link: http://feedproxy.google.com/~r/Techcrunch/~3/6bXFD1Zmhq0/
LevelUp Grabs $12M From Highland, Google Ventures To Take Its Mobile Payment Solution National
At the beginning of the year, Square doubled its retail presence, landing in about 20K outlets nationwide. As Jack Dorsey's mobile payment system continues to find legs, all the major players have been rushing to bring their own solutions to market. Believing mobile payments are the future, Seth Priebatsch (of SCVNGR fame) and team launched LevelUP, a mobile payment and rewards network into beta in July 2011.Since then, the mobile payment network has been growing fast, as it now counts over 200K users and has partnered with more than 3K merchants in Boston, NYC, Philadelphia, Atlanta, Seattle, San Francisco, and more. Today, SCVNGR and LevelUp are adding more coin to their coffers to kick the payment network's expansion into high gear, announcing that they've collectively raised $12 million in funding. SCVNGR's existing investors, including Highland Capital, Google Ventures, Balderton Capital participated in the round, along with new investors Continental Advisors and Transmedia Capital.Original Link: http://feedproxy.google.com/~r/Techcrunch/~3/6bXFD1Zmhq0/
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