CardFlight, a NYC-based provider of mobile point of sale (POS) technology, raised $4.2m in Series A funding.
The round was co-led by Dan Henry and MATH Venture Partners with participation from Silicon Valley Bank, ff Venture Capital, Great Oaks Venture Capital, Entrepreneurs Roundtable Accelerator, Plug & Play Ventures, Apostolos Apostolakis, Stuart Harvey, formerly CEO of payment processor Elavon, and Mark O’Connell, chairman of Multi Service.
The company intends to use the funds to continue to grow its engineering team and accelerate the rollout of their mobile payment acceptance solutions in the United States.
Led by Derek Webster, Founder and CEO, CardFlight is a provider of tools and technology to help merchants accept in-person credit card payments on iOS and Android devices. They offer tools and software developer kits that allow retailers and vertical solution providers to build their own custom POS software. Additionally, the company provides SwipeSimple, a mobile application that allows merchant service providers, banks, and other financial institutions to offer a mobile point-of-sale solution to their customers.
CardFlight’s technology platform also includes encrypted card readers and a PCI Level 1 compliant payment gateway that supports over 20 different processors, to provide clients with complete mobile payments and mobile POS (mPOS) solutions.