Secured funding
Ensygnia, a London-based mobile payments firm, has received USD3.3m from Wayra, a startup accelerator run by Spanish telecoms companyTelefonica.
Ensygnia, which launched 2012, allows users to pay for items by scanning websites through their phones that are set up to work with the app. As part of the deal Wayra will provide Ensygnia with office space, mentoring and board advisors. The money will be used to move Ensygnia out of beta and expand itself internationally.
Co-Founder and CEO Richard H Harris said: “We have just completed one of the most successful and largest seed funding rounds for a pre-revenue, pre-product company in the UK this year and have now secured a market valuation of more than USD20m.
“We are already moving quickly with a wide range of potential Onescan partners and customers and this backing is helping us to accelerate even faster – by expanding our development team for example,” he added.
“Through Wayra we have also secured a very powerful global mobile partner in Telefonica and I believe we are ready for take-off. With this level of support and backing I believe we will very quickly demonstrate our market traction and move towards a significant Series A VC investment round as the next stage in our international growth.”
Whitepapers
Related reading
Central banks best suited to issue digital currencies
By Aaran Fronda A recent report by the Official Monetary and Financial Institutions Forum (OMFIF) said that central banks rather than private ... read more
Instant payments: innovations inbound for corporates
In 2020, instant payments look set to continue their current trajectory to become the biggest trend in payments. While these schemes already offer numerous benefits to corporates, leveraging innovations such as APIs and request to pay will go some way to unlocking their full potential, argues Michael Knetsch
Obstacles exist for banks to meet ECB’s instant payments goal
The cost of joining instant payment platforms will be one of many hurdles banks and payment services providers must overcome to meet ... read more
Banks must be aware of “biases” in data used to train ML models
Financial institutions need to be conscious of biases in the historical data that is being used to train machine learning (ML) models, ... read more
