TransFS, a Chicago-based start-up that helps small businesses compare credit-card processors, has raised $510,000 in its first round of funding.

TransFS was launched in the spring of 2009 by Sean Harper and Joshua Krall, classmates at the University of Chicago’s Booth School of Business. The company provides a comparison shopping Web site for credit-card processors, including ratings, reviews and explanations of how contracts work. Get the full story »