AccountNow.Net closes on $12 million of funding

AccountNow.Net closes on $12 million of funding
Tags: Bank / Credit Union, Debit / Credit, Other, Underbanked / Unbanked
April 4, 2006

SAN RAMON, Calif. - AccountNow Inc., which markets MasterCard-branded and FDIC-insured stored-value cards for the estimated 40 million underbanked consumer market, announced in a news release that it's closed on $12 million of venture financing. The funding will be used to support continued growth and expansion of the firm's customer base.

New investor Invesco Private Capital led this second-round of funding, which also included previous investors Oak Hill Venture Partners, VSP Capital and Grayhawk Venture Partners.

Invesco is expected to play an important role in AccountNow's business expansion.