Sunday , February 28, 2021

Promise Network Raises $20 Million in Funding and other Digital Transactions News briefs from 2/19/21

  • Promise Network Inc., a startup specializing in government-related payments such as utilities, child support, and parking tickets, said it has raised more than $20 million in a Series A funding round led by Kapor Capital and XYZ Venture Capital.
  • A survey by payroll platform Everee Inc. of 400 U.S. independent contractors found that 59% work for more than one company and 91% would like to be paid more often than every two weeks. Some 29% have taken out a payday loan in the past 12 months.
  • GreenBox POS, a blockchain-based payments company, has agreed to process cryptocurrency payments for DSG Global Inc.’s Imperium Motor Corp. and Vantage Tag Systems units.
  • In related news, the non-profit XDB Foundation, which supports the DigitalBits blockchain project, said updates to DigitalBits Mainnet 2.0 are now live, enabling product rollouts by XDB in coming weeks. DigitalBits supports stablecoins and other digital assets tied to national currencies.
  • Invoice2go Inc., a specialist in payments and other support functions for small businesses and self-employed people, appointed Sean Deorsey chief financial officer. He comes to the company from Optimizely Inc.

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