Payvment Raises $6 Million In Series B

Posted Dec 1, 2010

Payvment is a start-up company that lets you create and operate virtual stores through Facebook. Payvment has raised $6 million in Series B funding led by Sierra Ventures with participation from BlueRun Ventures. Payvment has raised a total of $8 million in funding thus far.

You can sell products through Payvment and import photos through the application. Once you set up a virtual shop on Facebook, it will appear as a separate tab on your personal profile. Payvment launched in November 2009 and over 40,000 people and businesses have sold goods on Facebook. About 500,000 people on Facebook have shopped for products through Payvment. The company recently announced ability for businesses to provide instant discounts and coupons through the Payvment application to Facebook Fans. Payvment users can also review items within stores. Payvment plans to use the funding to hire engineering and community support employees.