Friday, July 24, 2009

TxVia Raises $15.5M in Series C Financing

TxVia, Inc., a pioneer in prepaid card processing technology, today announced it has raised $15.5 million in Series C financing, led by new investor, Bain Capital Ventures.

TxVia offers advanced processing systems for prepaid cards. Bank issuers and program managers have selected TxVia to enable their prepaid card programs. The company provides product and service quality, product manageability and configurability, platform performance and operations, client control and cost savings.

Also participating were all current institutional investors, including EspĂ­rito Santo Ventures, High Peaks Venture Partners and Village Ventures. New York City Investment Fund joined as a new co-investor.

“We conducted extensive diligence on the prepaid card industry and concluded that TxVia is the best-in-class processor,” said Paul Zurlo, a partner with Bain Capital Ventures who was elected to the TxVia board of directors. “Issuers and program managers with complex requirements and sizeable portfolios have selected TxVia for complete deployment of their prepaid card portfolios, achieving new levels of reliability and configurability.”

“TxVia strengthens New York City's position as the global center of financial services technology,” said Maria Gotsch, president and CEO of New York City Investment Fund. “We are pleased to have the opportunity to invest in the company.”

Anil D. Aggarwal
Chairman and Chief Executive Officer
Anil D. Aggarwal is a proven entrepreneur with a consistent track record of creating and managing successful business ventures. He was an early pioneer in the network branded prepaid card industry, and has been responsible for bringing to market some of the leading products and services. Mr. Aggarwal is Chairman and Chief Executive Officer of TxVia, an institutionally funded technology company that is revolutionizing prepaid card processing globally.
Carl M. Ansley
Founder and President
Carl M. Ansley is a prepaid technology veteran. He is the Founder, President and a director of TxVia. From 2004 to 2006, Mr. Ansley served as Chief Information Officer of TSYS Prepaid, Inc., a wholly owned subsidiary of TSYS (NYSE: TSS).

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