Mobile payments startup Paydiant raises $7.6M

Money continues to be thrown at the nascent mobile payments space without hesitation. The latest recipient of that interest and funding from venture capitalists is Boston-based Paydiant, which closed $7.6 million in its first round of funding.
The company plans to get off the ground later this year and will use the money from North Bridge Venture Partners and General Catalyst Partners to develop products and ramp up sales and marketing before its launch.
Paydiant’s three co-founders all have background and experience in the payments space, but the company hasn’t detailed specific plans or strategy yet.
“Enabling consumers to use their phones to make everyday purchases is a huge market opportunity,” said Chris Gardner, co-founder of Paydiant. “We have assembled a team who understand both the business and technology issues that must be addressed to create new mobile payments offerings for broad adoption. This group has hands-on experience creating and operating successful online and mobile platforms that facilitate billions of dollars in payments for many of the world’s largest companies today.”