SimplyTapp, the US start-up which says it created the 'Host Card Emulation' (HCE) approach to mobile NFC payments recently embraced by Google, has raised its series a funding round.
Founded in 2011, SimplyTapp developed HCE as a way to bypass the network operator-controlled Secure Element, storing sensitive user data in the cloud rather than the handsets' SIM cards.
The firm has over 100 developers using its SDK tools and has partnered and deployed with a global bank - believed to be Royal Bank of Canada.
The technology got a massive boost earlier this month when Google decided to use HCE within Android 4.4 KitKat for secure NFC-based transactions - helping it bypass the telcos which had held back the search giant's Wallet service.
SimplyTapp has now scored an unspecified amount of funding from Lightspeed Venture Partners and existing investor Blue Sky Capital as it bids to take advantage of the HCE hype and "revolutionise" mobile payments
Tim Danford, Lightspeed Venture Partners, says: "The SimplyTapp team will bring secure open innovation to developers and issuers that have been dominated by complexity. HCE is getting significant interest, I'm looking forward to working with the team to build a market leading company."