Fit Pay provides a payment enablement platform that lets wearable device manufacturers add contactless payment capabilities. Led by co-founder and CEO Michael Orlando, the company’s Trusted Payment Manager platform combines NFC technology with card-network tokenization to interact with point-of-sale terminals. The platform targets a wide range of wearable devices and lists future applications including transit, secure authentication and other secure identification use cases. Fit Pay closed $3.1M in seed funding to support commercialization efforts. The round was led by Giesecke & Devrient, with participation from Plug and Play Tech Center. The company completed Plug and Play’s FinTech Accelerator and won the Comerica Bank and RocketSpace $50k Wearable FinTech Startup Challenge. It plans to launch a Kickstarter campaign on February 8, 2016 to support commercialization of a payment smartstrap called Pagaré for the Pebble Time family of smartwatches, enabling secure contactless payments at millions of retail locations.

Total raised

$3M

Funding rounds

1

Latest round

Seed

Latest activity

Feb 2016