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NetPayment nets $1.1 million in funding, led by Intuit

Rick Turoczy on October 11, 2011

It’s always nice to write about someone new getting funding in Portland. Especially when it’s a company you might not know.

Meet NetPayment, a company that relocated to Portland, plans to stay in Portland, and has recently disclosed $1.1 million in funding.

As interesting as the funding is, the investors may be even more compelling. You see, Intuit—arguably the largest player in the personal and small business financial market—and the founder of Mint (now part of Intuit) are among those participating in the round. That’s a vote or two of confidence.

So what does NetPayment do?

NetPayment enables financial institutions to extend and monetize card-less transaction services via the Internet, and provides online merchants, payment processors, and billers the means to move money at the speed of light.

With NetPayment, transfers are made in seconds, not days. NetPayment communicates directly with supported institutions, allowing for immediate access to account information and transaction processing. A typical account inquiry or financial transaction takes seconds.

Could financial services be Portland’s next boon? With BankSimple and NetPayment calling Portland home—not to mention local talent from the previous generation of financial companies like Corillian—things could be leaning that way.

And what’s more? They’re hiring.

For more information, visit NetPayment.

Published by Rick Turoczy

More than mildly obsessed with the Portland startup community. Founder and editor at Silicon Florist. Cofounder and general manager at PIE. Follow me on Twitter: @turoczy