Peppercoin Secures $8 Million in Venture Funding

"Wall Street Technology Partners invests in companies that reshape their markets," said WSTP Partner Adam Lichtenstein. "Peppercoin is an exciting investment because the company has quickly seized a leadership role in establishing the 'small payments' category, and is working collaboratively with the large, established financial institutions that operate today's credit and debit payment systems. We are impressed by the company's seasoned team, and the progress they have made in garnering merchant adoption of their service and generating interest in the transition from cash to card."

"Since Pod Holding first invested in Peppercoin's initial funding round, we have been impressed with the company's ability to continually surpass its stated business and technical goals," said Peter Lawrence, founding partner of Pod Holding. "The management team's progressive, agile approach to small payments has led to superior technology that appeals to leading financial services companies, and as a result we have strengthened our partnership with the company."

"Wall Street Technology Partners and our existing investors are validating Peppercoin's business model as we continue to sign new merchants and build strong relationships with the leading global payments companies," said Mark Friedman, president and CEO of Peppercoin. "Merchants embrace our product as they find it provides an engine for revenue growth. Similarly, financial services entities value the increased payment volumes our offering brings them. We will be rolling out several advanced capabilities in coming months which enable a blend of prepaid, subscription, pay-as-you-go and post-paid merchant offerings."

Consumers are demonstrating a clear and growing preference to use their credit and debit cards for physical, digital and mobile purchases of all sizes. Each year, consumers in the United States make more than 350 billion transactions of less than $5, representing $1.32 trillion in aggregate revenue. This presents a significant growth opportunity for the credit and debit card market, and Peppercoin is at the forefront in providing a solution that allows merchants and financial services institutions to card-enable their transactions, capture a larger market share with flexible business models, and drive new revenue streams.