# Pay With Privacy

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/pay-with-privacy

- Industry: Software
- Headquarters: New York, US
- Website: www.privacy.com
- Total disclosed funding: $115M
- Latest round: Series C (Jul 28, 2021)
- Investors on record: 11

## About

Pay With Privacy, Inc. offers innovative virtual payment solutions that enhance online transaction security, allowing users to manage their financial information safely and privately while shopping online.Founded in 2014, Pay With Privacy, Inc. operates from New York, US, and specializes in virtual payment solutions that protect users' financial details. The company recently raised USD 60 mn in SERIES C funding on July 28, 2021, led by Stripes, with participation from several investors, including Bessemer Venture Partners and Index Ventures. Bo Jiang and Jason Kruse are the co-founders, with Bo Jiang serving as the CEO.Privacy’s core offerings revolve around its virtual payment solutions, specifically designed to enhance online transaction security and protect users' sensitive financial information. The company provides unique, anonymized 16-digit Privacy Cards that mask actual payment details, offering robust protections against fraud and unauthorized charges. These cards can be locked to specific merchants or set for one-time use, ensuring that they cannot be exploited if compromised. Privacy’s services cater primarily to U.S. citizens or legal residents aged 18 and older who hold checking accounts at U.S. banks or credit unions. The customer base includes over 250,000 users who benefit from increased control over their finances and enhanced online shopping security. The Privacy Cards are utilized in various online marketplaces, allowing users to shop securely across multiple global e-commerce platforms.Privacy generates revenue through transaction fees collected from merchants who accept the Privacy Cards. The company's business model functions primarily on a B2C (business-to-consumer) basis, providing individual users with subscription plans that include no fees on domestic transactions and a 3% fee on foreign transactions for the basic plan. Customers can select from various plans, including Pro and Premium options, which eliminate foreign transaction fees. These subscriptions facilitate seamless online shopping experiences, allowing users to manage budgets effectively through customizable spending limits and additional features such as cashback rewards. The structure of transactions emphasizes Privacy's role as a secure intermediary, enabling users to conduct business transactions safely while safeguarding their personal financial information.Following the recent fundraising round in July 2021, Pay With Privacy, Inc. plans to utilize the USD 60 mn to further grow its team, scale its operations, and enhance its platform through strategic acquisitions. The company aims to develop new products that strengthen its core offerings and expand into additional markets. Specific regions targeted for this expansion will be outlined as the company's growth strategy unfolds.

## Funding rounds

- Series C, Jul 28, 2021, $60M — Index Ventures, Bessemer Venture Partners, Stripes, Rainfall Ventures, Commerce Ventures, Tusk Venture Partners, Exor Seeds
- Series B, May 20, 2021, $43M — Index Ventures, Bessemer Venture Partners, Rainfall Ventures, Tusk Venture Partners, Teamworthy Group, Walkabout Ventures
- Series A, Jul 15, 2020, $10M — Index Ventures, Rainfall Ventures, Tusk Venture Partners, Teamworthy Group, Quiet Capital, Exor Seeds
- Seed, Dec 13, 2016, $2.2M — Index Ventures, Milliways Ventures

## Investors

- Index Ventures (https://capitalatlas.ai/funds/index-ventures) — Seed, Series A, Series B, Series C
- Milliways Ventures (https://capitalatlas.ai/funds/milliways-ventures) — Seed
- Rainfall Ventures (https://capitalatlas.ai/funds/rainfall-ventures) — Series A, Series B, Series C
- Tusk Venture Partners (https://capitalatlas.ai/funds/tusk-venture-partners) — Series A, Series B, Series C
- Teamworthy Group (https://capitalatlas.ai/funds/teamworthy-group) — Series A, Series B
- Quiet Capital (https://capitalatlas.ai/funds/quiet-capital) — Series A
- Exor Seeds — Series A, Series C
- Bessemer Venture Partners (https://capitalatlas.ai/funds/bessemer-venture-partners) — Series B, Series C
- Walkabout Ventures (https://capitalatlas.ai/funds/walkabout-ventures) — Series B
- Stripes (https://capitalatlas.ai/funds/stripes) — Series C
- Commerce Ventures (https://capitalatlas.ai/funds/commerce-ventures) — Series C