A big funding week for Finovate alumni just got bigger: innovative payment processor CardFlight (FinovateSpring 2013) just announced that it had raised $1.6 million in seed capital.
The funding was led by ff Venture Capital. Also participating were:
- Payment Ventures
- Apostolos Apostolakis
- Entrepreneurs Roundtable Accelerator
- Plug & Play Ventures
- Great Oaks Venture Capital
CardFlight provides an offline payment processing solution billed as the “easiest way to integrate card-present payments into your mobile app.” The company’s encrypted card reader works with almost any iOS or Android device. And with CardFlight’s secure SDK, the technology supports most payment processors including First Data, Stripe, and TSYS.
Who needs this stuff? According to Derek Webster, founder and CEO of CardFlight, everything from event ticketing to CRM apps are the kind of environments that can benefit from offline payment processing options. Interestingly, the majority of CardFlight’s clients are larger businesses looking white-label the company’s technology and maintain full control of the user experience. Said Webster, “our clients can integrate mobile payments into their apps in a matter of hours, while still customizing their mobile application and other solutions exactly how they wish.”