Lottay Raises $475,000 From DFJ Frontier

Lottay allows users to create online gifts and other users can put money towards it. The company recently raised $475,000 from DFJ Frontier and hired former Evite executive Harry Lin as their CEO. This round of funding was the company Series A. Lottay collects money using the PayPal Adaptive Payments API. The gifts are sent via e-mail and Facebook. The receivers of the gift can buy the intended gift or anything else. Lottay raised a total of $675,000 thus far. The initial seed funding was also invested by DFJ Frontier.