PayNearMe, a cash-based payment platform based in Silicon Valley, just raised a $10 million Series D round from investors including Seattle-based Maveron.
This is interesting to note because Maveron, the consumer tech-focused VC firm, is co-led by Starbucks CEO Howard Schultz. Back in August, Starbucks invested $25 million in Square, the well-known mobile payments company.
PayNearMe allows merchants to accept cash payments from remote users at 7-Eleven or ACE Cash Express stores. It just announced a new feature called PayNearMe Express, which is a self-serve system for merchants like property managers and collection agencies to accept cash.
Last June, Maveron led an $8 million investment in Lemon, a company that develops digital wallets for your smartphone.
