Online financial management solutions provider eWise has secured $14m in its latest financing round thanks to its simple yet disruptive proposition.
eWises latest round of investment will accelerate the expansion of its online banking enabled payment networks (OBePs) Secure Vault Payments (SVP) in the US and eWise payo in the UK. eWise is also due to unveil a mobile solution, which will be piloted this year.
The financing has been led by venture capital firm Wellington Partners and previous investors including Balderton Capital, TTV Capital and Patagorang have also participated.
eWise has a simple yet disruptive proposition pay online or on mobile through your bank account which is faster and safer for consumers, more profitable for banks and merchants, and underpinned by great technology, said Dharmash Mistry, partner at Balderton Capital.
eWise is rapidly transforming the way people around the world make payments, and we are very pleased to deepen our involvement with this exciting company.
SVP and eWise payo is an OBeP solution that allows consumers to pay for goods and services via their internet banking site, a move that is thought to help banks regain their customers trust. By eliminating the need to input personal data, eWise hopes to open the ecommerce market up to those consumers who are dissatisfied with the current level of security available.
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By GlobalDataSVP was launched in 2010 in associated with e-payments association NACHA, which acts as the automated clearing house (ACH) network regulator in the US. By the end of 2011, eWise anticipates more than 30m consumers will be enabled to transact over the SVP network.
eWise payo launched in the UK in January 2011.