WePay nets $10M in funding, looks to mobile
Payment provider WePay is looking to compete with just about everybody and it just raised $10 million to fuel the fight. The round was led by Ignition Partners. Ignition's Chris Howard will join WePay's board of directors.
WePay started as a "group payment" site, letting people pool resources and collect money together. But it has since turned into an online payment network letting merchants collect money from customers, meaning it's competing with PayPal for online transactions.
Now with an additional $10 million in its coffers (the company had raised $20 million already), WePay said it will scale the company's technology and workforce and expand into the mobile space. So look out Square.