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Bain Capital Ventures has made a new investment in TxVia Inc., a New York-based credit-card processing software company. The Boston-based venture arm of private equity firm Bain Capital is leading a $15.5 million Series C round in the company, along with fellow new investor New York City Investment Fund, TxVia announced today. Existing investors Espirito Santo Ventures, High Peaks Venture Partners and Massachusetts-based Village Ventures returned to participate in the round.
Bain Capital partner Paul Zurlo was elected to the TxVia board along with the funding, according to the company.
TxVia provides a platform-as-a-service delivery model for prepaid credit card processing, and reports 5 million reloadable and non-reloadable cards on file in both business-to-business and consumer-facing prepaid applications.
Bain Capital Ventures held a first close on its fourth fund in January at $475 million, with plans to add $75 million before the final close.
The New York City Investment Fund invests in for-profit and not-for-profit organizations with the aim to develop New York’s local economy.
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