Princeton eCom rings in $10 million

Princeton eCom has received $10 million from Lazard Technology Partners. The deal, announced this week, completes a total of $31 million the company has raised since late 2001 from New Century Equity Holdings, Mellon Ventures and Terra Lycos Ventures. The Princeton, N.J.-based company said in a statement that the funding will be used to enhance its position in the marketplace. Princeton eCom provides electronic payment and billing services to banks and large financial institutions. Prior to the recent funding, the company announced that it raised $20 million of debt financing in April 2001, and $33.5 million of equity funding in early 2000.

June 27, 2002 4:13 p.m. PT

Princeton eCom has received $10 million from Lazard Technology Partners.

The deal, announced this week, completes a total of $31 million the company has raised since late 2001 from New Century Equity Holdings, Mellon Ventures and Terra Lycos Ventures. The Princeton, N.J.-based company said in a statement that the funding will be used to enhance its position in the marketplace. Princeton eCom provides electronic payment and billing services to banks and large financial institutions. Prior to the recent funding, the company announced that it raised $20 million of debt financing in April 2001, and $33.5 million of equity funding in early 2000.