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This article was published on June 26, 2012

    Traxpay grabs $4m for online B2B payments solution, hires software vet John Bruggeman as CEO

    Traxpay grabs $4m for online B2B payments solution, hires software vet John Bruggeman as CEO Image by: Carsten Reisinger - Fotolia
    Robin Wauters
    Story by

    Robin Wauters

    Robin Wauters is the European Editor of The Next Web. He describes himself as a hopeless cyberflâneur, a lover of startups, his family a Robin Wauters is the European Editor of The Next Web. He describes himself as a hopeless cyberflâneur, a lover of startups, his family and Belgian beer. If you'd like to know more about Robin, head on over to robinwauters.com or follow him on Twitter.

    German investment firm Earlybird Ventures has pumped $4 million into Traxpay, a provider of realtime business-to-business payment solutions.

    The company is today also announcing that it has appointed enterprise software industry veteran John Bruggeman, who has stints at Cadence, Wind River, Mercury Interactive and Netscape under his belt, as chief executive officer.

    The fresh capital is meant to enable Traxpay to expand its initial customer base in Europe and prepare for its expansion to the US in the third quarter of 2012.

    The company has built its commercial enterprise software solution in partnership with management consulting firm Accenture, which has experience developing proprietary peer-to-peer banking systems.

    The most interesting thing about Traxpay’s real-time payment solution is that it gives its customers instant access to funds without having to wait for standard payment terms. That should grab the attention of many a company.

    Traxpay is headquartered in Mountain View, California with R&D operations in Cologne, Germany.