SAN JOSE, CA — PayRange has closed on $12 million in Series A funding led by Matrix Partners. PayRange, which is expected to use the capital to help deploy its mobile payment technology, said it selected Matrix to lead its funding round based on the global firm’s experience in payments and its history of helping founders scale enterprise and consumer companies. General partner, Jared Fliesler, a former Square executive, will join PayRange’s board of directors.
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.