Mountain View-Based Traxpay Lands $4 Million for U.S. Expansion

Mountain View, Calif. -- Traxpay, the Mountain View-based developer of an online system that allows businesses to exchange payments in real time, said on Tuesday it has raised $4 million in a new round of funding and named John Bruggeman as its CEO.  Earlybird Venture Capital led the round, which the company, which also has major operations in Germany, said it will use to continue its momentum in Europe and prepare to expand into the U.S. market later this year. Bruggeman previously held executive roles at Cadence, Wind River, Mercury Interactive and Netscape. Traxpay has been developing its software in partnership with Accenture, which has helped develop some of the largest proprietary peer-to-peer banking systems.
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http://www.businesswire.com/news/home/20120626005305/en/Traxpay-Raises-4-Million-Sets-Sights-Redefining