We are pleased to announce that NovitasFTCL acted as financial adviser to Mobeewave on its $16.5M growth investment round by NewAlpha Asset Management and Mastercard. The round also includes an investment by Forestay Capital, on which our client was advised by Oakland Partners.
Mobeewave is the world’s first and only provider of mobile payment solutions which enable secure contactless payment acceptance on smart devices, without the need for external hardware. In line with payment industry security standards and offered as a white-label solution, Mobeewave’s bring-your-own-device technology allows financial institutions, network providers and non-profit organizations to serve their clients and merchants with an inexpensive and convenient alternative to traditional point-of-sale offerings. Earlier this year, Mobeewave signed a global partnership agreement with Samsung Electronics making its platform available for commercial use on more than 250 million Samsung devices around the world.
The Mobeewave platform is currently deployed in Australia, Canada and Poland through respective partnerships with Commonwealth Bank, National Bank, and Polskie ePlatnosci (“PeP”), together with Mastercard. Further rollouts are to be announced in the coming months. This new round of investment will be key to Mobeewave’s growth strategy as it continues to establish a leading position in target markets and will support the deployment of its platform through strategic alliances with banks and payment facilitators, as well as expanding the company’s head count.
For further information on the transaction, please find below a link to its press release:
http://mobeewave.com/en/2018/11/14/mobeewave-closes-us16-5m-series-b-round-led-by-newalpha-mastercard-and-forestay-capital/
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