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Wilmington, Delaware based company eBillme has raised an amount of $12 million in a round of funding. The company provides online payment solutions to its customers. According tot the company, their service is secured, flexible, convenient and familiar. The current round of funding was led by Cannan Partners along with return backer Celtic House Venture Partners.

Following is the press release issued by the company on the current round of funding:

eBillme, the only cash based alternative payment option that leverages online banking for eCommerce checkouts, online and in the call center, announced that the company has raised $12 million in a recently completed round of financing. The financing was led by the multibillion-dollar, global venture capital firm, Canaan Partners, as well as existing investor Celtic House Venture Partners, investors in software and Internet services companies. Maha Ibrahim, General Partner at Canaan Partners, and Pierre-André Meunier, P.Eng., Partner at Celtic House, will join eBillme’s Board of Directors.

“This recent financing represents a significant milestone for eBillme and comes at a time of exciting company growth,” says Marwan Forzley, President and CEO of eBillme. “We will use this funding to further our merchant acquisitions and our expansion into new markets and consumer segments. Canaan Partners is highly regarded in the investment industry, and we are excited to work with them to drive even greater growth for our company.”

eBillme transactions occur securely, bank to bank, with no personal or financial information required or transmitted over the Internet. Because shoppers pay directly from their online bank account, they don’t release any financial information online. This helps consumers manage their spending and debt, while better safeguarding themselves from identity theft and fraud risks. eBillme’s buyer protection program takes security a step further. Provided at no cost to shoppers and retailers, the buyer protection features have the same or a better level of buyer protection than premium credit cards. Protection features include a return guarantee, price guarantee, in-transit protection, and fraud protection. Consumers can shop with confidence knowing their eBillme transaction is guaranteed and protected.

“eBillme’s technology addresses a growing demand for truly secure, online payment methods that aren’t credit based,” says Maha Ibrahim of Canaan Partners. “eBillme allows consumers to shop online with confidence that each transaction is protected, and it gives merchants an opportunity to capture new sales. As the alternative payments industry continues to grow, we are excited to help eBillme continue their market leadership and expand their payment offering across multiple channels.”