PayRange, a Portland-based startup that allows vending machines to accept mobile payments, has raised a $2.6 million funding round.
The company wouldn’t comment on the funding. The SEC filing notes that former Google Payments head and Google Wallet vice president Osama Bedier is listed as a director at PayRange. Beider left the Google Wallet team in May 2013.
Founded by Paresh Patel, PayRange builds technology that lets people buy vending machine items with their smartphone. It provides a small $49 dongle that operators can plug into their existing vending machines.
Users can download a PayRange app and load money onto a balance. When they come within a few feet of a PayRange-enabled machine, the app automatically syncs and the user can buy items straight from their smartphone.
PayRange will begin shipping its product to customers later this summer. It joins a list of financial startups to come out of Portland, including Simple, Chirpify, and Giftango.