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Flint Raises $2 Million from Verizon Investments

By David Penn Posted on
Categories: Flint Mobile

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Add another $2 million in funding for mobile payments startup, Flint Mobile.

The company said on Tuesday that Verizon Investments was contributing to Flint’s Series B round of funding. The additional capital from Verizon Communication’s investment division boosts Flint’s total funding for this round to $8 million.

Flint also announced integration with Apple’s Passbook. According to Flint CEO Greg Goldfarb, the idea is to “enable little businesses that don’t have a lot of technology resources and no cash register to act with the efficiencies of bigger businesses.” The Passbook integration will allow coupons and offers to be added to digital receipts, which can be sent via email or stored in Passbook. Users will also be able to manage payments, send invoices, and receive payments online.

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Flint offers iOS and Android compatible mobile payments systems that requires no additional hardware or card reader. The technology makes it easier for smaller and nontraditional businesses to accept credit cards, and allows merchants to issue invoices and create customized receipts safely and securely.
The company made headlines in October with news that it had received $6 million in Series B funding from wireless service provider, Digicel. Flint demoed its technology at FinovateSpring 2012 in San Francisco. See the company in action here.

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