PayEngine Picks Up $1.6M for SaaS Payments

Los Angeles-based PayEngine, a startup developing a white label, payment platform for software-as-a-service companies, has raised $1.6M in a seed funding, the company said this morning. The funding came from Mucker Capital, BAM Ventures, I2BF Global Ventures, HIVE Ventures and other strategic investors, according to the company. Spartak Buniatyan is founder and CEO of PayEngine. The company said the new funding will go to expand its core team and operations and extend its business reach while ensuring a smooth rollout for existing customers.