EMERYVILLE, CALIF. - Home Account has closed its second round of funding, for $10 million, bringing total financing to $26 million since it bought First Data Corp.'s direct banking division last June.
Home Account also announced that it has laid off 25 employees, or about 20% of its work force.
The funding was led by First Data Resources, a division of First Data Corp.; New Enterprise Associates; Marsh & McLennan Capital; Oak Investment Partners; and Mobius Management Systems Inc. The four companies were first-round investors in the 1999 funding.
Home Account also announced that Westamerica Bank has selected its Canopy First software to provide Internet banking services to customers of its StarConnect service launched last month. Online bill payment is being provided through an alliance with Princeton eCommerce BillPay.
Westamerica has assets of nearly $4 billion and serves retail and corporate customers at 90 branches throughout Northern and Central California.
