CyberCapital Secures $8.2 Million to Launch Electronic Payment Solution.Business Editors ATLANTA--(BUSINESS WIRE)--June 27, 2000 CyberCapital Receives Funding from CyberStarts CyberCapital, a business-to-business transaction settlement enabler, today announced that it received $8.2 million in funding from CyberStarts, an Atlanta-based e-commerce incubator incubator, apparatus for the maintenance of controlled conditions in which eggs can be hatched artificially. Incubator houses with double walls of mud, a fireroom, and several compartments each holding about 6,000 hens' eggs were developed in ancient times; the and accelerator. The capital will be used to develop the initial release of its electronic payment solution for B2B (Business to Business) Refers to one business communicating with or selling to another. See B2B e-commerce, B2C and B2G. B2B - business to business commerce transactions called CyberDraft(TM). With the launch of CyberDraft(TM) expected later this fall, CyberCapital will bring speed and efficiency to the commercial payment settlement process. CyberDraft(TM) will be an electronic version of the PaymentDraft(TM) that enables commercial buyers and sellers to create mutually beneficial Adj. 1. mutually beneficial - mutually dependent interdependent, mutualist dependent - relying on or requiring a person or thing for support, supply, or what is needed; "dependent children"; "dependent on moisture" payment terms. Buyers will have the latitude latitude, angular distance of any point on the surface of the earth north or south of the equator. The equator is latitude 0°, and the North Pole and South Pole are latitudes 90°N and 90°S, respectively. to extend their traditional payment terms while the seller accelerates the receivables-to-cash conversion time. CyberCapital has begun piloting a beta version A pre-shipping release of hardware or software that has gone through alpha test. A beta version of software is supposed to be very close to the final product, but, in practice, it is more a way of getting users to test the software in the first place under real conditions. of the CyberDraft(TM) with several clients. "We are excited about being a member of the CyberStarts keiretsu keiretsu: see zaibatsu. In Japan, a strong alliance of related organizations that shares knowledge and cooperates to control its sector of the business, including the supply chain and distribution. ," says Debora Darty, Chief Operating Officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. of CyberCapital. "The investment by CyberStarts validates our value proposition to buyers and sellers, as well as to liquidity partners. We look forward to a long and strategically beneficial relationship with CyberStarts." According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Ashish Bahl, President and Co-Founder of CyberStarts, "CyberCapital represents a key holding for CyberStarts. The company has the vision, the management, the market opportunity, and now the backing of CyberStarts' resources, to be a long-term success story. We see immediate synergy with our other CyberStarts' companies as well as our investors." About CyberCapital CyberCapital is a pure business-to-business payment settlement enabler focused on high-value, high frequency transactions. CyberCapital serves traditional brick-and-mortar companies along with electronic market makers. CyberCapital enables buyers and sellers to facilitate friction-free commerce through the use of its commercial payment settlement solutions. About CyberStarts CyberStarts is a full-service incubator and accelerator that currently focuses on business-to-business financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. and web infrastructure opportunities. Its mission is to provide advisory & operational services and growth capital to eCommerce companies, and to transform them into market-leading participants in an accelerated time frame. Its vertical focus provides it with a unique ability to identify the highest potential ideas, and to leverage its expertise and relationships to translate these ideas into businesses in compressed cycle times. CyberStarts' strategic investors and partners include iXL Ventures, Marsh & McLennan Capital, First Data Corporation, Wachovia Capital Associates, and Guyton Partners, among others. Its team has a combined background of more than 100 years of expertise in investments, insurance, banking, credit, and payments. CyberStarts is headquartered in Atlanta. |
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