PayRange wants to help you buy items from a vending machine without cash or coins.
The Portland-based startup today announced a $12 million funding round to fuel development of its vending machine payment technology. The Series A round was led by Matrix Partners and included participation from Nyca Partners, Google Ventures, and individual investors like former Google Payments head Osama Bedier and PayPal co-founder Max Levchin.
PayRange was founded by Paresh Patel, an unattended retail veteran, to provide operators and consumers with a simple and secure mobile payment and loyalty solution for laundry, vending, amusement, and other small ticket merchants. PayRange is the North American leader in mobile payments for unattended retail, with over 3 million users and a network of machines throughout 350 cities and towns in the US and Canada. Find out more at www.payrange.com.