There are a growing number of peer-to-peer marketplaces out there, helping to match up workers and sellers with products or skills, with buyers who wish to take advantage of them. But for those marketplaces to work, they don’t just need payment processing — they also need to worry about how sellers get paid. That’s Y Combinator-backed payments startup Balanced hopes to do, by providing a two-sided payment platform for marketplaces.
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Previously known as PoundPay, the company was founded by Matin Tamizi, Mahmoud Abdelkader, and Jareau Wade — who were all early employees at Milo.com, which had been acquired by eBay in 2010. It graduated from the Winter 2011 class of Y Combinator and has raised $1.4 million from SV Angel, Airbnb CEO Brian Chesky, celebrity investor Ashton Kutcher, and Reddit CEO Yishan Wong, among others.
