Trivent, of Shfeyim, has raised $3.6 million from the Veritas, Eurolink and V-Ventures funds, in which Europe’s largest communications companies are invested.
This is the company’s second round of fundraising. The first round took place in August 1998, when the Veritas and Eurolink funds invested $2 million in it.
Trivnet developed a payment collection service for digital merchandise and small payments on the Internet (micropayments), with the click of a single key. The service is known as WISP, and it has been registered as a patent.
According to its business model, Trivnet clears payments for a percentage of the transaction. An Internet service provider charges the user through his monthly subscription. The company reports on approximately 1,000 transactions a month in Isr5ael.
Trivnet already operates its services through Internet provider NetVision, and among its customers in Israel are the "Ha’aretz" and "Jerusalem Post" newspapers (the latter sells online archive services) and shareware companies (whose software sells for low amounts).
Next week, the company will start operating in North America. One of the commercial sites that are company customers belongs to Tucows of Canada, whose shares were purchased last week by the Israeli group of investors, headed by Benny Steinmetz.
Trivnet was set up in 1997 by Amir Galili, Guy Robio and Saar Wilf, and has thirty-five employees. Company headquarters are located in Santa Clara in the Silicon Valley, California.
Published by Israel's Business Arena May 31, 1999