Check (formerly Pageonce), which has developed a mobile app to track and pay bills, has announced a $24 million Series C investment led by new investor Menlo Ventures. Existing investors Morgenthaler Ventures and Pitango Venture Capital also participated.
Check CEO Guy Goldstein said, "Americans make $4 trillion worth of bill payments per year, and Check is transforming the bill payment industry with a simple, fast and easy-to-use mobile app."
Check says that its app is processing more than half a billion dollars of payment volume annually and that it has nearly 10 million customers on its platform.
Menlo Ventures managing director Doug Carlisle who joins Check's board said, "Check is in an excellent position to disrupt an industry with $20 billion in revenues. We are excited to be involved in the company's growth."
Unlike bank bill payment services, Check's free mobile app can be used to pay any bill anytime, anywhere and with any payment method. Giving customers a complete view into their personal finances across multiple providers, the top-rated app makes it simple to see balances, view transactions, and make payments on the fly, including same-day payments, from a mobile device. Check - Bills & Money is a free app available in Google Play and the iTunes App Store.
Check was founded in 2007 by Goldstein and Ahikam Kaufman. The company is headquartered in Palo Alto, California and has its development center in Kfar Saba.
Avery More, founder and former CEO of CompuCom, also joins Check as an independent board member.
Published by Globes [online], Israel business news - www.globes-online.com - on September 8, 2013
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