Samsung tops up Mobeewave's Series B round to $27 mln

Mobeewave, a Montréal-based contactless payment acceptance platform, has raised financing from Samsung Venture Investment Corp, the venture capital arm of South Korean technology giant Samsung Group. The deal adds to the Series B round secured by company in November, bringing the total to nearly $27 million (US$20 million). The round's first tranche was led by NewAlpha Asset Management, Mastercard and Forestay Capital. Mobeewave partnered with Samsung last year to make its technology available on Samsung devices in target markets. It said the additional funds raised will support R&D initiatives. Mobeewave was founded in 2012 by co-CEOs Benjamin du Haÿs and Maxime de Nanclas.