Mozido makes $2.5m investment in SimplyTapp

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Mobile payments platform provider Mozido has made a $2.5 million investment in HCE specialist SimplyTapp, raising the company’s Series B funding round to £10.1 million.

This latest injection of funding will allow SimplyTapp to ramp up research and development by expanding its core engineering team and bolster channel support for global partners.

SimplyTapp’s technology enables merchants to add mobile payments capability to stored-value and private label cards, allowing customers to pay with a single tap at existing NFC payment terminals.

Mozido, a company that also sspecialises in cloud-based payments, is calling the investment a “strategic relationship” which can “accelerate delivering innovative solutions to our customers worldwide”.

SimplyTapp’s platform is currently being used for a North American card issuing bank and on the Chicago transit system.

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