Rixty Lands $1.24 Million for Online Payment Platform

Authored by Mark Hefflinger on January 21, 2010 - 11:05am.

San Francisco - Rixty, the developer of an alternative payment platform designed to let people without credit cards make online entertainment purchases, said on Thursday that it has raised $1.24 million in seed funding, led by Javelin Venture Partners.

Accelerator Ventures, First Round Capital, Freestyle Capital, Nueva Ventures, Soft Tech VC and several angel investors also participated.

San Francisco-based Rixty's platform lets people convert their cash into online credits at more than 20,000 Coinstar kiosks and retail locations.

They then can spend those credits on games, virtual worlds, social networks, ringtones, and MP3 downloads.

The company said that it will use the financing to fuel the growth of its publisher network, expand its product offering and increase its user base.

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