Xoom, the international payments processor has raised $20.29 million Series E funding. DAG Ventures led the deal, and was joined by return backers like Fidelity Ventures, New Enterprise Associates and Sequoia Capital. Xoom had raised a $15 million Series D round back in mid-2006, and has now raised over $50 million in total funding.
Xoom allows fast, reliable and inexpensive money transfer to overseas accounts by offering low fees and competitive exchange rates. Send money from the convenience of your computer to friends and family worldwide and in the US.
When you send money, Xoom makes an electronic withdrawal from your bank account and sends the money to your recipient. All information of your account stays secure by encrypting all confidential information.
I feel that Xoom has a lot of potential to become a prime International payments processor for money enthusiasts. Like then similar services such as Paypal, Xoom has just stepped the whole up a level, especially when Paypal isn’t available in the country you’re paying to.
I’m inclined to use Xoom in future, because I had way of testing it, in terms of ease of use and security, the Xoom project is a payments processor success, providing one of the easiest ways to send money to people.
