Qpass Gets New Credit Facility

Qpass Gets New Credit Facility From Silicon Valley Bank: Qpass, the payment solutions provider for the wireless/content industry, announced that Silicon Valley Bank will provide the company with a $2,500,000 term credit facility. The credit facility provides Qpass with “additional working capital to support the company’s growth and overall business strategy”.

In December, the company announced that it had received $10.7 million in its second round of funding. RRE Ventures led the round with participation from new investor Westbury Partners, along with existing investors Hook Partners, Oak Investment Partners, Seapoint Ventures, and Venrock Associates.

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