Electronic billing software producer Transactis increased its total funding to $70m, securing $30m from five banks, each of which contributed $6m.
US-based electronic billing and payment software provider Transactis received $30m in series E financing on Sunday from financial services firms Capital One, Fifth Third, PNC, TD Bank and Wells Fargo.
The five commercial banks, all of which were already customers of Transactis, each provided $6m of the capital. Law firm K&L Gates acted as counsel to the investors.
Transactis produces software that enables financial institutions, technology providers, printers and business process outsourcers to replace paper statements, invoices, payments and documents…
