San Francisco
– Rixty, the developer of an alternative payment platform designed to let
people without credit cards make online entertainment purchases, said on
Thursday that it has raised $1.24 million in seed funding, led by Javelin
Venture Partners.

Accelerator Ventures, First Round Capital, Freestyle Capital,
Nueva Ventures, Soft Tech VC and several angel investors also participated.

Francisco-based Rixty’s platform lets people convert their cash into online
credits at more than 20,000 Coinstar kiosks and retail locations.

They then can
spend those credits on games, virtual worlds, social networks, ringtones, and
MP3 downloads.

The company said that it will use the financing to fuel the
growth of its publisher network, expand its product offering and increase its
user base.


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