Transactis, payment-processing-software firm, raises $30 mln from 5 top banks

Five major U.S. commercial banks invested a total of $30 million in Transactis, the New York provider of electronic billing and payment solutions. Capital One, Fifth Third, PNC, TD, and Wells Fargo put equal amounts into this Series E round. Including this funding, Transactis has now raised $70 million. Transactis says its software as a solution enables businesses of all sizes “to replace paper bills, statements, invoices, payments and documents with efficient and cost effective digital alternatives.” Other Transactis investors include ff Venture Capital, MacAndrews & Forbes, Metamorphic Ventures, Safeguard Scientifics and StarVest Partners. K&L Gates LLP advised the five banks on the Series E investment agreements.

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