Balanced Obtains $2,000,000 Seed Round

  • Feed Type
  • Date
    4/2/2013
  • Company Name
    Balanced
  • Mailing Address
    Undisclosed Palo Alto, CA 94301
  • Company Description
    A 14 year-old Matin Tamizi ordered his first webcam on eBay in early 1999. UPS delivered the webcam and collected the money using cash on delivery. It was simple and beautiful. That day started an obsession with payments. A decade later and marketplaces are creating new forms of commerce and trying to solve the transaction problem—marred with compliance, challenges in paying sellers, and handling taxes. Matin started building a new real-time payments network in March 2010 and realized in December that the same problems from 1999 still existed for marketplaces — marketplaces that will go on to fundamentally shift commerce and affect the global economy. Balanced aims to empower this movement.
  • Website
    http://www.balancedpayments.com
  • Transaction Type
    Venture Equity
  • Transaction Amount
    $2,000,000
  • Transaction Round
    Seed
  • Proceeds Purposes
    Specific proceeds purposes were not disclosed.
  • M&A Terms
  • Venture Investor
    Andreessen Horowitz
  • Venture Investor
    Undisclosed

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