In a round led by Dan Henry and MATH Venture Partners, mobile card payment solutions provider, CardFlight has raised $4.2 million in Series A investment. Founder and CEO Derek Webster called the funding a validation of his company’s leadership role in the mobile payments space. He added that the capital would help the company build its engineering team and speed up deployment of CardFlight’s EMV-enabled payment-acceptance technology in the United States.
“We’re excited to be adding investors with such deep experience growing and scaling startups in the payment industry,” Webster said. The investment takes CardFlight’s total capital to more than $6 million.
CardFlight CEO Derek Webster and VP of Engineering Elie Toubiana demonstrated the CardFlight SDK for Mobile Payments at FinDEVr2014 in San Francisco.
Also participating in the round were Silicon Valley Bank, ff Venture Capital, Great Oaks Venture Capital, Entrepreneurs Roundtable Accelerator, Plug & Play Ventures, and Apostolos Apostolakis.
CardFlight was the first mobile service provider to process EMV-enabled credit card payments in the U.S. Last month the company announced that its solutions had been certified by First Data to accept EMV chip-card payments. For fintech developers, CardFlight offers a fully customizable SDK to allow them to integrate card-present payment-functionality to mobile apps. For acquirers and merchant service providers, CardFlight provides technology such as SwipeSimple, a turnkey-hosted mPOS solution.