Wednesday, February 20, 2008

IPP is a leading provider of electronic payment services got $20.5 million in VCs Funding

What Company Is Offering:
IPP of America Inc is a leading provider of electronic payment services operates the largest national network of independent neighborhood-based payment centers, providing reliable and safe electronic payment services to cash paying customers. Through their Payment Settlement Network, IPP authorized payment centers offer a wide array of alternative financial services including electronic bill payment, prepaid long distance, prepaid wireless epins, and prepaid home phone. The company's payment center network currently extends to over 8,000 locations nationwide.

How Much They Got From VCs:
IPP of America , a leading provider of electronic payment services, announced that it has closed a $20.5 million round of venture capital investment led by Old Lane, LP. Also participating in the round were Hamilton Investment Partners, LLC and existing investor Edison Venture Fund.

About VCs:
Old Lane, LP is a global investment firm with offices in the United States, the United Kingdom and India. Old Lane's 125 professionals invest over $4 billion in capital across asset classes on, a global basis. Among our negotiated investments, Old Lane seeks to be a significant investor in public or private businesses, led by exceptional management teams, where the Firm's capital, relationships and capital management experience can catalyze or accelerate the creation of durable value. Public and private financial investments, including transaction-based companies such as IPP and risk-based investments are the single largest sector of focus for the firm. Old Lane, LP's ultimate parent is Citigroup, among the largest and most international financial institutions globally.

About Hamilton Investments, LLC

Hamilton Investment Partners, LLC (HIP, LLC) is an opportunistic private investment firm that makes equity and subordinated debt investments in partnership with superior management teams, focusing primarily on small and middle market buyouts, growth capital financings and bridge financings. Together, the firm's partners have completed more than 50 financings over the past 25 years.

Edison Venture Fund

Edison partners with entrepreneurs, service providers and other financing sources to build successful companies. Edison provides capital and value-added services to expansion stage ($5 to 20 million revenue), information technology businesses. Initial investments range from $5 to 8 million. Edison typically serves as a sole or lead investor in financings up to $10 million. In addition to providing growth capital, Edison funds management buyouts, recapitalizations, spinouts and secondary stock purchases.

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