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BancBox Launches Crowdfunding Escrow Service

Friday, April 26, 2013 5:17:00 AM PDT | VentureDeal

   San Mateo, California  --  Payment service provider BancBox has announced the launch of an independent escrow service for equity, debt and revenue share crowdfunding portals.

Called BancBox Crowd, the service enables crowdfunding portals to automatically process investor contributions while remaining in compliance with various federal requirements.

BancBox says that it already manages $100 million in consumer deposits each day and its transaction volume has increased to nearly $2 billion annually.

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