electronic bill presentment software, has received $19.5 million in financing from investors that include Financial Technology Ventures, a San Francisco venture capital firm that counts U.S. Bancorp and Bank One Corp. among its investors.
Scott Wu, a general partner of FT Ventures, said BlueGill's software is the "most advanced and complete" for financial services companies. FT Ventures was established to allow banks and other financial services companies to jointly invest in technology firms and benefit from the technology those companies develop.
U.S. Bancorp and Bank One both use BlueGill software. U.S. Bancorp uses it to deliver credit card, checking, and savings accounts to its retail customers. Bank One, through an agreement with Electronic Data Systems Corp., has integrated Blue Gill's software into its own treasury management services, so it can offer electronic billing to its commercial customers.