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News and Information Article
More than 240 Leading Multichannel Brands Turn to I4 Commerces Bill Me Later
to Improve Shopping Convenience and Security
TIMONIUM, Md., March 28 /-FirstCall/ -- I4 Commerce, the leading
provider of alternative payment solutions for multichannel retailers, today
announced it has secured $27.4 million in venture funding. The financing
round, led by Kingdon Capital Management, includes previous major investors,
Crosspoint Venture Partners, Azure Capital Partners and GRP Partners.
Currently, more than 240 leading multichannel brands use I4 Commerces Bill Me
Later(R), which provides consumers with a fast, convenient and secure way to
shop online and over the phone.
"Our investment in I4 Commerce reflects our confidence in the experience
and innovation of Gary Marino and his management team," said Mark Kingdon,
president, Kingdon Capital Management.
Retailing has changed dramatically over the past decade. New channels for
shopping, delivery and communication have attracted new competition and raised
customer expectations for all retailers. The old payment process model, driven
primarily by credit cards, does not give retailers the support they need in
the new marketplace. Consumers shopping online are looking for an easy and
secure shopping experience. Retailers that offer Bill Me Later improve the
end-to-end shopping experience for their customers by making it safer,
flexible and more convenient, and also realize increased sales and enhanced
customer loyalty.
"In past year we have tripled the number of merchants offering Bill Me
Later to attract new customers. We expect this growth to continue over the
next year as we work closely with multichannel retailers to further enhance
our services," said Gary Marino, CEO of I4 Commerce. "It is significant that
existing major investors have substantially reinvested in this round. This new
round of funding is critical as we continue to add increased functionality and
help reshape the payments landscape."
Bill Me Later lets consumers pay for purchases online and by phone without
using a credit card. Consumers simply click on or say "Bill Me Later" and
complete their purchase.
About I4 Commerce
I4 Commerce is a rapidly growing technology company helping to connect
leading retailers with high value customers by improving the purchase
experience. Its alternative payment solutions help multichannel retailers to
attract, satisfy and retain customers at the point-of-sale. More than 1.2
million consumers rely on the safety and convenience of I4 Commerces Bill Me
Later payment solution when shopping online, via catalog and in-store to help
save both time and money. The solutions are the first new payment methods
since credit cards to be so broadly available within the United States. For
more information, visit http://www.I4commerce.com.
All trademarks are the property of their respective owners.
Contact: Mark W. McClennan or Scott Love
Schwartz Communications
781-684-0770
i4@schwartz-pr.com
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