iSend, LLC, Completes Series A Financing

WATERTOWN, Conn., June 30 /PRNewswire/ -- iSend, LLC, an international payments company, today announced it has closed its Series A Preferred Stock Financing. Investors include Gray Ghost Ventures on behalf of Gray Ghost DOEN Social Ventures, with Village Ventures and NextLevel Venture Partners adding to their existing holdings. The company plans to use the capital to expand its network of U.S. payment locations, establish more partnerships with international wireless carriers and bill payment partners, and expand its marketing initiatives.

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Terms of the financing were not disclosed.

"Achieving this significant funding milestone enables us to move forward with our core mission of providing a safe, convenient and economical way for people living in the US to support family and friends back home," said Steven LaBella, founder and CEO of iSend. "We are thrilled to have attracted the continued backing of such a proven and innovative group of investors."

"We are very confident in Steve and the iSend team," remarked Matt Harris from Village Ventures. Additionally Harris stated, "Expanding our holdings in iSend is consistent with our strategy of partnering with leading entrepreneurs who are creating innovative products."

iSend's international bill payment and cellular phone recharge services currently include nearly 50 international companies inMexico, Central andSouth America and theCaribbean. Bills such as TELMEX, Telcel, Infonavit, SKY and others can be paid from thousands of retail partner locations inthe United States.

"We are focused on improving the financial lives of the under-banked immigrant consumer we serve. In these economically demanding times, we know that our service allows people to help their family in other countries in an exceptionally practical and secure method," remarked Steven LaBella.

"iSend provides a valuable and important product to typically underserved consumers living in the US, away from home, which offers great peace of mind and comfort," said Brian Cayce from Gray Ghost Ventures. "We're delighted to be investing in iSend to accelerate the growth and adoption of the service in the US and abroad."

ABOUT iSEND

A privately held company, iSend was founded by Steven LaBella and is located inWatertown, CT. iSend is a leading provider of international electronic payments fromthe United States toMexico, Central andSouth America, and theCaribbean. iSend services provide consumers based in the U.S. a secure, convenient and economical solution to directly pay bills and recharge cellular phones for themselves and for their family back in their home countries through thousands of U.S. retail partner locations. For more information visit the company's website at www.iSendOnline.com

CONTACT: Catherine Milsom, The Rye Group, LLC, +1-954-600-5250, cmilsom@theryegroup.com

SOURCE iSend, LLC

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