Mobeewave picks up $16.5m in Series B round

Canadian payments start-up Mobeewave has raised $16.5m in Series B funding round led by NewAlpha Asset Management, Mastercard and Forestay Capital.

The business has planned to use the funds to expand the deployment of the platform in new markets and increase its employee headcount.

Mobeewave’s mobile payment solutions which enable secure contactless payment acceptance on smart devices, without the need for external hardware. The company’s services are being used in Australia, Canada and Poland, through partnerships with Commonwealth Bank, National Bank, and Polskie ePlatnosci.

The company recently signed a global partnership agreement with Samsung Electronics for the use of the platform on more than 250 million Samsung devices worldwide.

“Securing strategic funding from organizations with a proven track record of supporting innovation, especially financial technologies, will enable Mobeewave to continue to grow, develop new product offerings and business partnerships,” said Mobeewave COO and co-founder Maxime de Nanclas.

“This financial backing has also brought us one step closer to realizing our goal of making payment acceptance an option for everyone.”

Also this week, payments FinTech UiPath raised $265m for its Series C thanks to new backing from IVP, Madrona Venture Group and Meritech Capital.

Smart payment terminal business Poynt also picked up $100m in aSeries C round yesterday.

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