[Clips] Peppercoin Secures $8 Million in Venture Funding

Wed Aug 17 14:32:14 EDT 2005

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 Delivered-To: clips at philodox.com
 Date: Wed, 17 Aug 2005 14:31:40 -0400
 To: "Philodox Clips List" <clips at philodox.com>
 From: "R.A. Hettinga" <rah at shipwright.com>
 Subject: [Clips] Peppercoin Secures $8 Million in Venture Funding
 Reply-To: rah at philodox.com
 Sender: clips-bounces at philodox.com

 From: Peppercoin, Inc. [mailto:announcements_signup at peppercoin.com]
 Sent: Wednesday, August 17, 2005 11:38 AM
 To: <snip...>
 Subject: Peppercoin Secures $8 Million in Venture Funding

 <http://rs6.net/tn.jsp?t=c4afcobab.0.mismf8n6.foladxn6.544&p=http%3A%2F%2Fwww.peppercoin.com%2F>

 News & Updates

 August 17, 2005

 Greetings,
 Over the last year, Peppercoin has worked closely with financial services
 institutions to develop the leading solution for small payments. The
 successful close of our recent funding round validates our vision - to
 enable convenient and profitable credit and debit card use for small
 payments.
 Peppercoin Secures $8 Million in Venture Funding to Drive Adoption of
 Card-Based Small Payments
 Leading Small Payments Company's President is Named Chief Executive Officer
 WALTHAM, Mass.-August 17, 2005-Peppercoin, a payments technology company
 that enables profitable new business models for low-priced digital content
 and physical goods, today announced it has secured $8 million in funding.
 The financing round, led by venture capital firm Wall Street Technology
 Partners, includes previous investor Pod Holding and a large, Boston-based
 institutional investment adviser; several private individuals returned to
 participate in the round as well. Peppercoin also announced that Mark
 Friedman has been named president and chief executive officer. As
 president, Friedman forged strong ties with the financial institutions,
 including First Data and Chase, that have helped drive adoption of
 Peppercoin's Small Transaction Suite.
 "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. Over the past year,
 Peppercoin has realized success with merchants and financial services firms
 such as First Data, Chase Merchant Services, and SunTrust Bank.
 About Wall Street Technology Partners
 About Wall Street Technology Partners Wall Street Technology Partners LP
 (WSTP) is a New York-based technology fund founded in 2000. The fund
 invests in mid-to-late stage US-based technology and media companies across
 a wide industry spectrum, including software applications, servers and
 storage, semiconductors, wireless, energy, telecom systems and enterprise
 and carrier networks. WSTP has in excess of $125 million of capital under
 management. WSTP site:
 <http://About%20Wall%20Street%20Technology%20Partners>www.wallstreettp.com.
 About Pod Holding
 Pod Holding is a private equity firm located in Boston and Stockholm that
 invests in leading Information and Communication Technology (ICT)
 companies. Founded in 2000, Pod Holding's deep domestic presence and
 investment activity in both the US and Nordic countries provide unique
 knowledge, insights and opportunities for successful company-building in
 each region. When combined with Pod's experienced team of investment
 professionals and strong global relationships across the ICT industry, the
 result is a unique US-Nordic franchise that drives growth and value for Pod
 Holding's portfolio companies and partners. For more information, please
 visit: <http://www.podholding.com>www.podholding.com.
 About Peppercoin, Inc.
 Peppercoin enables profitable new business models for low-priced digital
 content and physical goods. Peppercoin's small payment products help
 merchants, banks, and other payments companies build market adoption
 quickly through a flexible, consumer-friendly approach. Peppercoin
 integrates easily with existing business models and payment systems to
 accelerate revenues and increase profits. For more information please visit
 <http://www.peppercoin.com>www.peppercoin.com.

 Investors
 <http://www.podholding.com/>

 <http://www.wallstreettp.com>

 Media Articles

 Big Opportunities in Small Transactions
 The Green Sheet
 06/28/2005
 <http://www.greensheet.com/PriorIssues-/050602-/default.htm>Read more

 Big Bucks in Micropayments
 Information Week
 05/18/2005
 <http://www.informationweek.com/showArticle.jhtml?articleID=160900649>Read
more
 To contact Peppercoin sales,
 <http://rs6.net/tn.jsp?t=c4afcobab.0.mvjk86aab.foladxn6.544&p=http%3A%2F%2Fwww.peppercoin.com%2Fsales.shtml>click
 here
 To view all press releases,
 <http://rs6.net/tn.jsp?t=c4afcobab.0.nvjk86aab.foladxn6.544&p=http%3A%2F%2Fwww.peppercoin.com%2Fpress%2Fpressreleases.shtml>click
 here

 © Copyright 2005 Peppercoin, Inc. All rights reserved.
 <snip...>
 Peppercoin | 200 West Street | Waltham | MA | 02451

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 --
 -----------------
 R. A. Hettinga <mailto: rah at ibuc.com>
 The Internet Bearer Underwriting Corporation <http://www.ibuc.com/>
 44 Farquhar Street, Boston, MA 02131 USA
 "... however it may deserve respect for its usefulness and antiquity,
 [predicting the end of the world] has not been found agreeable to
 experience." -- Edward Gibbon, 'Decline and Fall of the Roman Empire'
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-- 
-----------------
R. A. Hettinga <mailto: rah at ibuc.com>
The Internet Bearer Underwriting Corporation <http://www.ibuc.com/>
44 Farquhar Street, Boston, MA 02131 USA
"... however it may deserve respect for its usefulness and antiquity,
[predicting the end of the world] has not been found agreeable to
experience." -- Edward Gibbon, 'Decline and Fall of the Roman Empire'

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