The company has revealed plans to use the new capital to scale its technology. Since 2010, WePay has also gathered USD 9.15 million in two financing rounds.
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. Merchants can use WePay’s tools to set up online stores and embed them on their own websites.
WePay has also unveiled its intention to launch its first mobile applications later in 2012. Most recently, WePay has entered an agreement with Layered Technologies, a global provider of compliant hosting and cloud computing services.
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