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News

Verizon unveils investment in HCE startup SimplyTapp

Friday 5 June 2015 10:04 CET | News

Verizon Ventures, the investment arm of US carrier Verizon, has unveiled that it was the undisclosed lead investor in a Series B funding round for HCE specialist SimplyTapp that totalled USD 6 million.

Other investors in the round, which was completed in November 2014, included Lightspeed Venture Partners and Blue Sky Capital.

SimplyTapp is a developer of cloud-based mobile payment technology. Founded in 2011, SimplyTapp creates open platforms that enable developers to leverage mobile devices for tap-payments and other real-world transactions. The companys platform leverages host card emulation (HCE) in conjunction with near field communications.

In recent news, SimplyTapp, PromptNow and TIS have created the Asian Payments Cloud initiative to bring a cloud-based payments solution to the banking and financial services community in the APAC region.


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Keywords: Verizon, investment, HCE, startup, SimplyTapp, Series B, funding round, Lightspeed Venture Partners, Blue Sky Capital, mobile payments
Categories: Payments & Commerce
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Countries: World
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