Payments company WePay has secured $15 million in Series C financing led by Continental Investors. The round was joined by all existing investors and brings the company's total VC backing to $35 million. WePay's previous raise, a $10.2 million Series B round in 2012, came at a $40 million valuation.
The company will use the new funds to accelerate its growth through international expansion, as well as further investment in its payments API product, which is built specifically for platform businesses such as online marketplaces, crowdfunding sites and small business software. In conjunction with the financing, Continental's Paul Purcell will join WePay's Board of Directors.