Flint Mobile provides a mobile point-of-sale payments solution that lets merchants accept on-the-spot payments by photographing customers' credit cards rather than using dongles or extra hardware. The company has expanded its product beyond in-person payments to include Sell Online, which embeds a payment option directly into merchants' websites. Flint has integrated with services such as Intuit QuickBooks and added loyalty/couponing through Apple’s Passbook; the team is also looking at Apple Pay. Sell Online is priced at the same rates as Flint’s mobile payments (1.95% for debit, 2.95% for credit). Flint serves merchants and business customers in the “high tens of thousands,” with average transactions around $120. The company has raised capital to support product expansion and broader internet payments capability, bringing total funding to just over $20 million. Flint Mobile offers an iOS and Android mobile-payments app that uses the phone’s camera to ‘scan’ cards rather than requiring a dongle, targeting service‑oriented merchants who need on-the-go payments, invoicing and receipts. The app supports invoicing (customers can pay online or via mobile), tracking overdue invoices and reminders; it also added Passbook coupon creation and redemption (with QR fallback) and can handle multiple items, custom amounts and discounts. The company recently enabled cash and check handling and includes social marketing tools that drive Facebook referrals via emailed receipts. Fees are competitive: 1.95% for Visa and MasterCard debit and 2.95% for credit cards, while AmEx and Discover are not currently supported. Flint reports about 200,000 installs (majority on iOS), Android launched in October, transaction volume has grown roughly 14x since Q1 2013, and the average transaction is about $100. Management says additional funding will be used for continued product development and customer acquisition, and remaining Android feature rollouts are planned. Flint provides a mobile payments app that lets merchants scan customers’ credit cards with a phone camera, encrypts the data, and routes transactions to a backend processor with a touchscreen signature to complete sales. The company requires no additional hardware and positions its pricing as competitive with debit swipes at 1.95% and credit card transactions at 2.95%. Flint recently added Android support to widen its reach in addition to its existing iOS app. The team is roughly 16 people and plans to expand headcount as it develops backend tools focused on driving repeat business and referrals for small-business customers. The company reported about 150,000 iOS app installs since launching in May 2012 and a 10x surge in transaction volume, which it described as strong engagement. Flint Mobile is a free iPhone app that enables small-business merchants to process payments by photographing the front of a payment card and capturing a customer signature on-screen. The app digitizes the card number from the photo, sends receipts, and can feed transactions into social marketing (for example, posting to Facebook with customer opt-in). Flint positions itself against Square by avoiding a hardware dongle and by claiming funds transfer immediately rather than next-day. The company charges 1.95% plus $0.20 for debit and 2.95% plus $0.20 for credit transactions. Flint is currently in beta on iPhone and says it will offer integration and customization for a select set of distribution partners. The company plans to use the newly raised capital to further product development, hire more people, and market the app; Greg Goldfarb is listed as co-founder and CEO.

Total raised

$20M

Funding rounds

4

Latest round

Series C

Latest activity

Oct 2014