TrialPay, the offers provider that has snagged exclusive deals with Facebook over the years, raised more than $40 million from Visa, Greylock Partners and other investors. The company notably picked up a strategic investor in Visa along with another traditional late-stage participants like T. Rowe Price.

TrialPay was one of the early offers providers on the Facebook platform that helped social gaming companies monetize the vast majority of users that were unlikely to pay for virtual goods. Instead of paying for virtual currency, players could get virtual currency for free by signing up for offers like Netflix subscriptions instead.

After an early ugly period on the platform that saw offers of questionable quality from several rivals, Trialpay emerged as a favored partner to Facebook. The company was initially offered a deal to be the exclusive offers provider for Facebook. Now the company says it reaches more than 70 million monthly active users worldwide and powers offer walls for top developers like Zynga and Playdom.

TrialPay partnered with Facebook in February 2011 to offer DealSpot — an in-game offers API that served daily deals to players, giving them virtual currency rewards if they mad a purchase. Before DealSpot, developers had to set up relationships with advertisers and video providers individually. This was difficult for companies without large sales teams.

In addition to Greylock, Visa and T. Rowe Price, the other investors include DAG Ventures, Draper Fisher Jurvetson’s Growth Fund and QuestMark Partners. TrialPay announced it increased transaction volume by seven times and saw four times as much traffic to the platform in 2011. The company did not specify how it will use the funding beyond general growth and innovation.

It’s worth noting that Visa’s investment in Trialpay represents yet another step into virtual currency for the credit card company. Visa acquired Playspan, a company that supports dozens of payment options for casual game players, in Feburary of last year for $190 million in cash.