E4X develops e-commerce solutions. The money is intended to finance the expansion of E4X's international sales network, and for R&D investment.
E-commerce solutions developer E4X has received a $1 million credit line from Plenus Technologies. E4X stated that the money was intended to finance the expansion of its international sales network and for R&D investment.
Founded in 1999, E4X, develops solutions enabling e-commerce sites to sell products in different currencies, without exposing them to exchange rate risks or obliging them to bear the costs of multi-currency commerce. E4X completed a $6 million financing round, at an company value of $18 million, after money, in 2000. Pitango Venture Capital led the round, with the participation of Delta Ventures, JP Morgan, and Leader Tech (TASE:LDRTC). In 2002, E4X held an internal round, raising an undisclosed amount.
Plenus, which manages $55 million in capital, has provided credit lines to BusinessLayers, Cyota, EZChip, PowerDsine, and Wintegra.
Published by Globes [online] - www.globes.co.il - on September 1, 2003