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SoftPOS provider Phos raises EUR1.3 million

SoftPOS provider Phos raises EUR1.3 million

Phos, the UK fintech that turns Android handsets into mobile point-of-sale terminals, has raised EUR1.3 million in funding.

The round was led by Bulgarian-based VC New Vision 3. It brings the total raised by Phos to date to €2.5 million, according to TechCrunch, and will be used to grow the development team.

The funding comes just weeks after Phos announced a four-week field trial of its technology with Mastercard.

The pilot project will rely on Paynetics, an e-money institution with license across the European Union as the acquiring bank, and will entail tests with approximately 200 merchants from the United Kingdom, Germany, Bulgaria and Romania.

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