US-based payments processing service WePay raised $40 yesterday in a series D round featuring e-commerce company Rakuten that was led by venture capital firm FTV Capital.
Existing investors Highland Capital Partners, August Capital, Continental Investors and Ignition Partners also participated in the round.
WePay operates a payments processing platform that enables users to pay for products and services online without merchants having to worry about providing the secure infrastructure themselves.
The company’s clients include crowdfunding website GoFundMe, cloud-based accounting service FreshBooks and social networking platform Meetup.
The series D funding will support WePay’s global expansion, and Oskar Miel, fintech fund managing partner at Rakuten, will join its advisory board.
WePay graduated from accelerator Y Combinator in 2009 and has raised $75m in total. Apart from Highland, August, Continental Investors and Ignition, the company’s backers also include a range of angel investors.
Bill Clerico, chief executive of WePay, said: “We built our solution to help platforms and marketplaces facilitate payments, without the accompanying risk and regulatory overhead.
“We are excited to further invest in our product and global expansion, while leveraging the expertise of domain experts like FTV and Rakuten.”