Mobeewave, a Canada-based provider of near-field communication (NFC) mobile payment services, has raised $6.5m in series A funding from SBT Venture Capital, the corporate venturing arm of financial services firm Sberbank.
Mobeewave has developed an app which can turn an NFC-equipped smart device into a payment terminal that works with contactless cards and digital wallets such as ApplePay without the need for additional hardware.
The series A funding will be used to expand into new countries and to accelerate Mobeewave’s product roadmap to market.
Mircea Mihaescu, managing partner of SBT Venture Capital, said: “We are very proud to announce the first investment of 2015. 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.”