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PayNearMe files for first close after raising 68%
XDATA - January 5th 2017
PayNearMe's first close reached $20.51 million. The company's $30 million non-brokered equity issue was 68% sold to thirteen investors. The first commitments were received on December 21st. $9.49 million in additional funding can be raised before December 2017 based on the placement's structure. A total of six unregistered securities offerings closed by the company raised an estimated $69.97 million.
PayNearMe markets and develops an electronic cash transaction network that enables consumers to pay rent and utility bills, repay loans, buy tickets, make online purchases and do much more with cash. Investors include GSV Capital, August Capital, Khosla Ventures, True Ventures and Maveron.
The company, headquartered in Sunnyvale CA, is led by Daniel J Shader (President). PayNearMe elected to keep its revenues undisclosed.
The executive team includes Allison Amadia and Kristina Campbell.
The board of directors includes Jon Callaghan and Mark Britto.

The company has raised an estimated total of $90.47 million via private unregistered security offerings.
Offering recap
Status: First close
Company: PayNearMe
Industry: Other Technology
Amount offered: $30 million
Amount placed: $20.51 million
SEC filing: Source
First sale: 12-21-2016
Data as of: 01-05-2017
Similar transactions 2015 Map: Software Category
2017-11-22 $1.21 million unregistered debt financing and first close reported by Ezuza
2017-07-19 PayClip disclosed issuing $1.64 million worth of equity
2017-06-15 Ingo Money files for first close after raising 59%
2016-06-07 iPayYou files offering's details after placing 10%
2016-05-27 $9.53 million raised so far by Wave via private placement
Largest Transactions by Amount Raised : Payment Products
 Entity NameOffer Date $ SoughtDelta $ Sought$ RaisedSecurity OfferedIndustryFiling Type/
SEC Source
 First Data Holdings2014-06-193,500,000,0003,500,000,0003,500,000,000EquityOther Technologyoriginal
 Equian Parent2015-12-18252,965,960252,965,960252,965,960EquityOther Health Careoriginal
 Mozido2014-10-10400,000,000400,000,000184,999,978EquityOtheroriginal
 Ceridian Holding II2016-03-31150,300,000150,300,000150,211,170EquityOther Technologyoriginal
 Stripe2016-11-22141,000,010141,000,010141,000,010EquityBusiness Servicesoriginal
All dollar amounts are derived from filings lodged with the SEC by the company under current and previous names.
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