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Allied Payment Network filed a first close at $13,000
XDATA - March 10th 2017
Allied Payment Network disclosed selling 1% of its $1 million non-brokered financing round to one investor. According to the filing, $13,000 worth of equity was subscribed almost two weeks ago. An additional $988,000 in funding is to be raised until the offering draws to a close in February 2018. The equity offering's estimated net proceeds will amount to $790,000 which excludes $210,000 to be paid toward officers' salaries. A total of six unregistered securities offerings closed by the company raised an estimated $5.61 million.
The company is a bill payment solution provider to consumers and financial institutions. The company is marketing its picturepay mobile phone application which allows users to take a picture of their bills to pay them. The company also offers services to small businesses as well as backend payment processing solutions for internet banking providers.
The company, headquartered in Fort Wayne IN, is led by Ralph E Marcuccilli (CEO). Revenues on or below $1 million were reported by Allied Payment Network.

The company has raised an estimated total of $5.62 million via private unregistered security offerings.
Offering recap
Status: First close
Company: Allied Payment Network
Industry: Other Technology
Amount offered: $1 million
Amount placed: $13,000
SEC filing: Source
First sale: 02-27-2017
Data as of: 03-10-2017
Similar transactions 2015 Map: Software Category
2017-06-15 Ingo Money files for first close after raising 59%
2016-12-01 First close initiated by Dream Payments after raising 67% of its $1.5 million target
2016-07-26 $14,000 worth of equity securities were sold by Oakley Kambel
2016-01-22 Tapp Commerce filed a first close at $4,000
2015-10-29 $681,000 worth of equity securities were sold by Beyonic
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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