FTC Capital led the $40m Series D Round for the 6 year-old company, which to date has raised a total of $75m in venture funding. WePay is an online payment service provider that focuses exclusively on platform businesses such as crowdfunding sites, marketplaces and small business software.
WePay, a company that processes payments for websites, has raised $40 million in new funding to expand globally. New investor FTV Capital led the round, with Japanese e-commerce giant Rakuten and existing investors Highland Capital Partners, August Capital, Continental Investors and Ignition Partners also participating. WePay originally launched as an easier way for groups to collect money and make payments to each other. Over the past two years, however, WePay pivoted to handling payments for online marketplaces, donation sites, and other web businesses, including GoFundMe and Care.com Rivals include Stripe, a hot payment processing company that was recently valued at $3 billion and has deals in place with Apple and Twitter. Another is Braintree, which was acquired by digital payments service PayPal in 2013 for $800 million.