The WePay API will enable Fundable to allow their users to start accepting payments, without requiring users to have a pre-existing merchant account. The Marketplace API provides Fundable with a compliant payment service. In addition, Fundable will create WePay accounts for its entrepreneurs so they can start accepting payments on Fundable and the WePay API will support split payments, pre-approved payments and subscription billing.
Crowdfunding platforms have raised USD 1.5 billion in 2011 and have funded more than one million campaigns. The recently passed JOBS Act (also known as the Crowdfunding Bill), which will allow startup companies to publicly raise money from non-traditional investors, has led to an increase in the crowdfunding space.
WePay currently offers a range of payment products which are mostly aimed at the small and medium sized online businesses. The company’s tools currently focus on four use cases: selling products online, selling tickets, accepting donations and sending bills to request payments. In recent news, WePay has secured USD 10 million in a funding round led by venture capital firm Ignition Partners.
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