Balanced Gets New Funding

By John Adams

Published April 02, 2013, 11:40 a.m. EDT

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Updated April 05, 2013, 4:21 p.m. EDT

1 Min Read

Balanced Inc., a startup that allows developers and entrepreneurs to build payments technology, has raised an additional $3.4 million round of seed capital from a group of investors that includes Andreessen Horowitz general partner Jeff Jordan, who’s also the former president of PayPal, according to news reports.

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The company, which offers a white-label application programming interface and web-based dashboard to developers, will use the new round to fund international expansion, pay for office space and expand its fraud prevention technology, the reports say.

Andreessen Horowitz has provided most of the startup’s funding—including the lead on an initial $1.4 million investment in November. Other backers include Yishan Wong, Y Combinator and Ashton Kutcher. Kutcher, famous for his acting roles, has also invested in payment and tech companies such as Dwolla.

Balanced and Andreessen Horowitz did not respond to requests for comment by deadline. The startup operates in a growing field of tech companies such as Stripe, Dwolla, Jumio and Zooz, which use open development methods to enable other companies to build payments technology.

Correction: An earlier version of this story used an incorrect name for Balanced Inc.

Executive Editor, Payments

John Adams is executive editor of payments for American Banker. John interviews top executives in the payments, cryptocurrency and fintech... Read full bio

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