AccountNow, another company lending to "underbanked," raises $12.75M
AccountNow, a San Ramon, Calif. company company that offers prepaid Visa and Mastercard debit-cards and other services to people who have had trouble meeting their needs through banking, has raised a $12.75 million third round of capital.
It comes at a time when a series of other companies have launched to serve people looking for ways to raise money outside traditional banking services. We’ve written about them here, for example. They include Wonga, LendingCircle, Prosper and Zopa.
The company’s statement is here
The round was led by Trident Capital, and included INVESCO Private Capital, Oak Hill Investment, VSP Capital, Grayhawk Venture Partners, Granite Hill Capital Ventures and CEO Tim Coltrell.
AccountNow has now raised $21.3 million in venture capital over the last three years.
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About the Author, Matt Marshall
Matt launched VentureBeat in September of 2006, with the realization that no one else was covering the entrepreneurial and tech innovation scene with the velocity or depth that he was. Prior to founding VentureBeat, he covered venture capital for the San Jose Mercury News from 2001 to 2006. In 2002, Matt was awarded "Journalist of the Year" by the Northern California Society of Professional Journalists. Prior to working at the Merc, he was a correspondent for the Wall Street Journal in Bonn, Germany from 1995 to 1998, and a writer for the Washington Post in 1994. Matt holds a PhD in Government and an MA in German and European Studies from Georgetown University. In addition to VentureBeat, Matt is also the Executive Producer of DEMO, the leading launchpad event for emerging technologies.












