Flint Taps Verizon for $2 Million Addition to Series B Round
Dec. 12, 2013
Flint Mobile, a Redwood City, Calif.-based company that enables mobile card acceptance using a smartphone’s camera, raised $2 million this week from Verizon’s investment arm to complete a Series B round of $8 million. The Series B investment brings the total raised by Flint since 2012 to $11 million. Verizon Investments joins Digicel Group, SVG Partners, Storm Ventures and True Ventures, which together kicked in $6 million last month when the Series B financing was first announced. The company said the proceeds of the new financing will be used to expand Flint’s team of developers, currently at 16 employees.
Separately, Flint said it has updated its iOS app to include the ability to accept online transactions. In addition to adding card-not-present capability, version 2.0 of its app enables Flint merchants to create invoices, create send and redeem coupons in Apple Passbook and enable multiple item transaction entry.