Open source e-commerce platform Spree Commerce has raised $5 million in Series A funding led by Thrive Capital. Vegas Tech Fund (led by Tony Hsieh, CEO of, Red Swan Ventures, and existing investors True Ventures and AOL Ventures also participated in the investment.

Electronic cash transaction network PayNearMe has closed a $20 million round of financing led by GSV Capital. August Capital, Khosla Ventures, Maveron and True Ventures also participated in the round. PayNearMe says it will use the funds to continue expansion into existing categories, while launching into new vertical markets.