Verizon Ventures, the corporate venturing arm of mobile phone network operator Verizon, has made an investment in US-based payments processing service SimplyTapp.
Simply Tapp secured $6m in the first tranche of its series B round in December 2014 from Blue Sky Capital, Lightspeed Venture Partners and additional, undisclosed investors.
Mobile payment processing platform Mozido provided a further $2.5m in February 2015, though Verizon has not disclosed whether it participated in either series B tranche, or whether it invested separately. We have reached out to Verizon Ventures for clarification.
Founded in 2011, SimplyTapp’s Host Card Emulation technology enables Android phones to be used for mobile transactions such as retail payments, virtual hotel room keys and ticketing. Lightspeed led the company’s $1.4m series A round in 2013, which also included Blue Sky.