Mobeewave tops up Series B round with Samsung Venture Investment

Mobeewave tops up Series B round with Samsung Venture Investment

Canadian mobile contactless payments outfit Mobeewave has increased the size of its Series B funding round to almost US$20 million thanks to new money from Samsung Venture Investment Corporation.

The latest funding tops up a $16.5 million round from November that was led by NewAlpha, Mastercard and Forestay Capital.

Montreal-based Mobeewave lets users accept contactless payments with their phones, without the need for any external hardware. The firm has agreements in place with National Bank of Canada, Australia's Commonwealth Bank and Polskie Platnosci.

The money from Samsung Venture Investment Corporation comes nearly a year after MobeeWave inked a deal with Samsung to bring its platform to the South Korean giant's devices.

Maxime de Nanclas, co-CEO, Mobeewave, says: "Samsung's financial investment will help support our research and development in further progressing digital transformation through innovative, customer-focused solutions - a goal that we both share."

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