Montreal-based Mobeewave provides a platform that lets merchants accept secure contactless payments on their mobile devices via NFC, removing the need for external card‑reading hardware. The company has a global partnership with Samsung that makes its platform available for commercial use on more than 250 million Samsung devices. Its solution is currently deployed in Australia, Canada and Poland through partnerships with Commonwealth Bank, National Bank and Polskie ePlatnosci (PeP) alongside Mastercard. Mobeewave says the new funding will enable broader global deployment and the development of new product offerings. The company also plans to use the capital to support deployments through strategic alliances with banks and payment facilitators and to expand head count. Management describes the Series B as market validation of Mobeewave’s payment acceptance platform and leadership in the FinTech space. Mobeewave is a Montreal-based company founded in 2012 that develops dongle-free near-field communication (NFC) mobile payment acceptance services. Its core product is software that turns any NFC-enabled phone or smart device into a secure contactless mobile point-of-sale capable of receiving Apple Pay, contactless cards, and NFC wallets without additional hardware. The solution aims to lower infrastructure and logistics costs for merchants by eliminating dedicated POS devices and dongles. Earlier this month it closed a $6.5 million investment round led by SBT Venture Capital, with business angels also participating. SBT Venture Capital is the venture arm of Russia’s Sberbank, and its managing partner called the technology "a game changer" and suggested it could be of interest for deploying NFC mPOS services in Russia. Mobeewave says neither it nor its team had prior links to Russia; the identities of the participating business angels were not disclosed.

Total raised

$23M

Funding rounds

2

Latest round

Series B

Latest activity

Nov 2018