Banks, cable companies, and utilities all want to get rid of their paper bills and get customers on their electronic billing systems. Just as there were back-office billing providers for the paper era, there are now back-office electronic billers. A company in Charlotte, North Carolina called Transactis is one of them, and it just raised a $2.5 million round led by New York City-based Metamorphic Ventures. CEO Joe Proto and other existing shareholders also participated in the round.
The round is an extension of a $3 million series C the company raised last year, and brings the total capital raised to $10.5 million.
Transactis works primarily with banks and payment processors to take over the whole e-billing process for them, from presenting the bills via email to collecting the cash. More and more consumers are opting to go paperless (it’s the green thing to do), and companies save on the paper, printing, and postage costs.
Email billing is a growth business, and Transactis is carving out a nice little niche for itself.