Bling Nation signs up second Colorado bank, secures $20m funding

By Sarah Clark • nfcworld.com • 2 November 2009, 15:21

Park State Bank & Trust, based in Woodland Park, Colorado, has become the second bank to sign up for Bling Nation's mobile contactless-sticker based payments system. The bank began offering the service to its customers on 15 October.

Bling Nation's first customer, the State Bank of La Junta recently reported that 62% of its customers have signed up for the mobile contactless service in less than five months.

Bling Nation has now secured further funding of $20 million. The funding round was led by Balderton Capital and included existing investor Lightspeed Venture Partners.

"Bling Nation has the potential to revolutionize the payment industry, a sector that historically has been dominated by established players with little appetite for innovation," says Roberto Bonanzinga, partner at Balderton Capital. "The scale of this market and the disruptive nature of Bling Nation's business model combined with the company's experienced management team are what attracted Balderton Capital to Bling Nation, and I am honored to join the company's board."

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