Pay By Touch Raises NewCapital

January 27, 2006, 1:00 a.m. EST 1 Min Read

SAN FRANCISCO - (01/27/06) Biometric payments provider PayBy Touch announced Thursday it raised $60 million in new financingfrom several hedge funds and private investors. The company raisedthe new capital through the sale of preferred shares to hedge fundsPlainfield Asset Management and Scout Capital, and privateinvestors Quince Associates and Global Trust Partners, amongothers. Pay By Touch has been using $130 million it raised inSeptember to help finance several recent acquisitions, includingCardSystems Solutions, BioPay LLC, Capture Resource, 7th StreetSoftware and Convena LLC.

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