Bermuda-based e-commerce company Promisant yesterday announced that it had secured an additional $5 million in financing in the wake of a series of deals to provide international companies with global transaction processing services.

Promisant said it had recently closed the $5 million financing "in addition to the $3.5 million that was raised in late 2001 and early 2002". Among the investors was existing investor NeoCarta Ventures, the company said.

The funds raised will be used to provide working capital to fund operations and to expand product offerings including certification in the US and Canada. Promisant has signed agreements with First Data Merchant Services, Dresdner Bank AG, First National Bank of Omaha, and Ernst & Young.

Promisant also announced the appointment of Rich Speer, chief executive officer of Speer and Associates, to the Board of Directors. Speer and Associates is a management consulting company specialising in the development of major retail and business strategies for leading banks in the US and internationally.