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Mobeewave secures funding from Russian firm for mPOS expansion

February.18.2015 0 Comments

mobile-payments-012Mobeewave, a Montreal-based company that works with NFC mobile services, today announced it secured $6.5 million in Series A investment in a round led by Russia-based SBT Venture Capital. The company said in a press release it will use the funding to support its growth and support new market openings worldwide, while fast tracking the rollout of its products roadmaps.

Mobeewave claims it is the world’s first and only provider of dongle-free NFC mobile payment terminal products enabling payment acceptance on smart devices. The company turns any NFC-enabled phone (or other smart device) into a secure contactless payment terminal (mobile POS) to receive payments from ApplePay, contactless cards or any NFC wallets without the use of any additional hardware. Mobeewave supplies services to banks and merchants.

“We are very pleased to have secured this series A round, led by SBT Venture Capital and joined by other business angels and government investments,” Benjamin du Haÿs, CEO and co-founder of Mobeewave, said in a statement. “The strategic investment from SBT VC as a FinTech-focus fund and financial-networks oriented actor will be key to our success, for example by supporting the simultaneous deployment of new markets.”

“We are very proud to announce the first investment of 2015,” Mircea Mihaescu, managing partner of SBT Venture Capital, said in a statement. “We believe Mobeewave has the potential to become the leading provider of mobile payment-acceptance services. Mobeewave’s technology is designed to bring together and create seamless integration between the next generation of NFC mobile devices, banking services and merchants.”