Sequent, a Santa Clara, Calif.-based provider of tokenization services, completed a $16m Series C financing.
The round was led by TIS, part of TIS INTEC Group based in Japan, with participation from existing investors Opus Capital Partners, SBT Ventures and Jado Investments.
Led by Fred Thiel, Chairman of the board, Sequent provides a platform that brings cards to mobile and makes them useful for consumers. The solution enables banks, transit agencies, access control providers and any other issuer to securely digitize their credit, debit, transit, loyalty, or ID cards, distributing them to their own application or any others. Its APIs empower the app developer community to bring cards to all apps on mobile, wearable, and other connected devices enabling consumers to make payments, redeem offers, open doors, and ride transit systems.