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Zumigo Raises $6 Million in Investment Led by Intel Capital

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Guess which fintech company’s just-completed, $6 million Series B round comes stamped “Intel Inside”?

On Friday, Zumigo announced an investment from Intel Capital, Intel’s global investment and M&A arm, along with participation from existing investors, including Aligned Partners. This Series B round brings Zumigo’s total funding to $7.7 million.
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Zumigo’s CEO and Co-founder Chirag Bakshi says the new financing “validates our direction and success and will accelerate growth in our core business of providing mobile location and identity products to financial organizations and enterprises alike.”
In addition to growth in its core business, the company said in a statement that the funding also will help support investments in sales and marketing, as well as in new product development.
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Yesterday we shared news that Zumigo will be one of three companies participating in the inaugural Wells Fargo Startup Accelerator. The Accelerator is geared toward startups that are capable of delivering solutions for FIs ranging from security and fraud to payments and operations. The six-month program includes an equity investment between $50,000 and $500,000.
Founded in 2008 and headquartered in San Jose, California, Zumigo demoed its technology at FinovateSpring 2014.