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Alternative Payments Technology Firm I4 Commerce Raises $27.4 Million

Authored by Mark Hefflinger on March 28, 2006 - 10:41am.
Timonium, Md. - I4 Commerce, a developer of alternative payment technologies for retailers, said that it has secured $27.4 million in a new round of venture capital funding, led by New York-based Kingdon Capital Management. Previous investors Crosspoint Venture Partners, Azure Capital Partners and GRP Partners also participated. Maryland-based I4's "Bill Me Later" platform allows consumers to pay for purchases online and by phone without using a credit card. Instead, consumers provide their name, billing address and birthdate, as well as the last four digits of their social security number, and later receive a bill in the mail. The platform is currently in use by more than 240 brands, including Petco, Continental Airlines and Wal-Mart.
tags: Raise | Alternative Payments Technology Firm | I4 Commerce |