Montreal fintech startup Mobeewave raises US$16.5 million

Mobeewave, a Montreal-based fintech startup whose technology enables people to securely accept payments in person using only their smartphones, has raised US$16.5 million in a Series B round of funding led by NewAlpha Asset Management, Mastercard and Forestay Capital. The funding, which included the main founding shareholders of Mobeewave and was secured with support from Oakland Partners, will enable Mobeewave to continue to deploy its patented mobile payment solution in global markets and develop new product offerings, said Maxime de Nanclas, COO and co-founder. Mobeewave’s platform is currently deployed in Australia, Canada and Poland through partnerships with, respectively, Commonwealth Bank, National Bank, and Polskie ePlatnosci, together with Mastercard. Further rollouts are to be announced in coming months, the company says. Earlier this year, Mobeewave signed a global partnership agreement with Samsung Electronics, making the company’s platform available for commercial use on more than 250 million Samsung devices around the world.