Clip Raises $1.7M in Funding

clipClip, a Mexican mobile payment startup, raised $1.7m in funding in the form of a convertible note.

According to TechCrunch, the round was led by Alta Ventures, with participation from an unnamed existing investor.

Led by Adolfo Babatz, co-founder and CEO, Clip provides merchants and consumers in the Spanish-speaking world with a mobile payment system which works with iOS and Android devices. It enabless merchants to accept credit, debit and other types of cards, using a smart phone plug-in and a risk-management system to manage transactions.

The company, which has already partnered with American Express Mexico, had already raised some funds earlier in 2013 (read our news here).



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