Battery Ventures leads $20m Series C round fro Q2ebanking


battery2_lrgBoston-based venture capital firm Battery Ventures has led a $20m Series C funding round for electronic banking specialist Q2ebanking.

Existing investors Adams Street Partners and C&B Capital also participated in the round.

The round caps off a successful year for Q2ebanking, which saw its revenues soar 51 per cent year on year following a 49 per cent increase in 2011.

Q2ebanking’s technology helps mitigate risks associated with community banking and provides secure online, mobile and voice banking solutions to clients, which include 400 financial institutions.

The company also said that it will retain investment banking and private equity firm Croft & Bender as its exclusive financial advisor and placement agent.

Only last month Battery, which is regarded as one of Silicon Valley’s most established technology investors, reportedly raised $900m across two separate vehicles.

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