Tokenisation service provider Sequent picks up $16m in its Series C funding round.
The round was led by Japan-based TIS, with other contributions coming from existing investors including Opus Capital Partners, SBT Ventures and Jado Investments.
Founded in 2010, the company allows businesses like banks, transit agencies and access control providers to transfer their credit cards, transit, loyalty and ID cards on to mobiles.
Sequent chairman Fred Thiel said, “The market for tokenization technology and services will only continue to grow in the coming years. Sequent’s comprehensive platform addresses the increasing need to provide trusted systems underlying the most threatened mobile environments and transactions.
“This recent investment will help fund enhancements to the core products and continued growth in support of our growing global network of partners.”
The firm picked up $12m in its Series B funding round in 2013, with California-based MoneyTime Ventures leading the investment.
Sequent’s Series A was an undisclosed amount, but was led by Opus Capital and SK Telecom Ventures.
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