Sequent Software, a Redwood City, CA-based provider of near field communication (NFC ) software and systems for mobile devices in North America, has closed a Series A financing of undisclosed amount.
Investors include Opus Capital and SK Telecom Ventures.
The company intends to use the funding to expand the reach of its solutions that enable payment networks, retailers and the mobile ecosystem to offer NFC (near field communication) services to consumers.
Led by CEO Drew Weinstein, Sequent has developed a suite of software and services that allow companies to enable payment cards from financial institutions, merchants, and transit agencies on NFC-enabled mobile devices from manufacturers such as RIM and Google.
NFC-enabled mobile devices will then give consumers the chance to download payment cards and other credentials to their phones, using them for payments, offers, and product information in retail stores.
In conjunction with the funding, Bob Borchers from Opus Capital and Rob Trice from SK Telecom Ventures will join the company’s board.
Sequent Software previously operated as Sparq Mobile Solutions.
FinSMEs
10/05/2011