MIAMI—Saftpay, a secure payment system designed to safeguard consumer financial information in online transactions, has raised a $6 million Series A round from Espirito Santo Ventures.

Espirito is a venture-capital subsidiary of the Lisbon, Portugal-based international banking giant Banco Espirito Santo.

Saftpay’s proprietary model releases absolutely no customer financial data while handling payments of an online customer’s purchase of goods or services. Not even Saftpay is aware of their clients’ sensitive personal financial information, the company says. Only the consumer and the consumer’s bank are aware of the transaction and source of payment.

The system works through banks’ subscription agreements which banks in turn offer to their customers as an add-on service. Similarly, online merchants also subscribe to the Saftpay network.

Manuel Montero, CEO of Saftpay says Espirito Santo Ventures brings more than money to the deal. “Along with their proven track record of investments in innovative payment businesses, they bring us an immense international understanding of markets and have taken the time to understand the enormous potential value of our proprietary system,” he says.

Montero says the new funding will enable the company to attract additional banks and e-merchant partners.

On the Web: www.saftpay.com

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