Zipmark provides small to midsize businesses with a proprietary hybrid payment and risk management platform to invoice and collect payments. The platform connects payer and payee accounts so money can be received and available the next business day. Launched in 2010 by CEO Jay Bhattacharya and Jake Howerton, the company is based in New York City. Zipmark completed a $1.5M funding round in August 2013. The company intends to grow its market share within the SMB space and to increase the size of its development team. Zipmark builds a mobile payments platform that uses the existing check processing network to let users pay bills, invoices, and friends from their checking accounts while avoiding credit card fees and bounced checks. The service clears funds from a user’s account on the next business day and uses Check21-compliant digital checks. Zipmark charges low fees—1% per transaction capped at $5.00—and does not need to hold customer funds for extended verification periods. The company launched a developer program and Biller API to let businesses and app developers integrate Zipmark for online and mobile transactions. At launch several partners announced support, including Sunshine Suites, Singular Payments, UnitConnect, and InvoiceASAP. Zipmark said it will also release a consumer-facing iPhone app in time for SXSW. The company is invite-only and was founded by Jay Bhattacharya and CTO Jake Howerton.

Total raised

$4M

Funding rounds

2

Latest round

Equity

Latest activity

Aug 2013