[Techtaffy Newsdesk]

PayNearMe has closed $10 million in additional funding led by August Capital with participation from existing investors Khosla Ventures, Maveron, and True Ventures.

The funds will be used to continue expanding the PayNearMe platform and further scaling the business, says the company.

PayNearMe is a cash transaction network that enables consumers to pay rent, repay loans, buy tickets, and make online purchases with cash. Consumers can make payments 24/7 in their own neighborhood at one of the 8,600 participating 7-Eleven and ACE Cash Express stores across the United States.