Carta Worldwide has received a $7 million tranche from a $12 million Series D funding round. The investors included Difference Capital and DC Thomson. Headquartered in Ontario, Canada, Carta is a mobile payment solutions provider.
Toronto, Canada (PRWEB) September 15, 2014
The capital investment round was co-led by Difference Capital (Toronto, Canada), and DC Thomson (UK). Carta began the development of its technology in 2007 and to date has invested over $50 million in development of its digital transaction processing platform.
Carta is experiencing rapid growth, with notable successes from clients in financial services, telecom and retail sectors. As technologies like NFC (Near Field Communications) go mainstream in the payments industry, Carta provides critical services to clients with incumbent platforms not originally designed for the complex digital payments ecosystem.
Carta’s platform architecture is designed to enable existing legacy systems to rapidly deploy new product innovations. Supporting secure element and cloud-based mobile payments including HCE (Host Card Emulation), Carta is a leading provider of digital credential management and tokenization services. The September 9, 2014, launch of Apple Pay is a prime example of new payment methods, in this case, embedded SE security and tokenization, that are inherent in Carta’s technology platform.
“We are very excited about the explosive growth in mobile payments, and the recent Apple Pay announcement will fuel more growth,” said CEO, Brian Semkiw. “The world of payments is now on a firm path of NFC adoption. Thanks to new technologies including tokenization and HCE, card portfolios can be easily digitized for all NFC smartphones including Android and iPhone. We’re embarking on a very exciting year for mobile payment adoption. “
“Wide-scale adoption of mobile payments is set to grow exponentially in the next few years,” said Michael Wekerle, CEO of Difference Capital. “We sought to back a company that is known as one of the most technologically advanced mobile payments processing systems in the world.”
“This year alone, mobile payment transactions are expected to reach $507 billion, globally. North American mobile transactions have almost doubled since last year, now accounting for 17 percent of transactions made, with a total of about $37 billion in 2013,” said Tom Liston, Managing Partner of Difference Capital. “We foresee the accelerated adoption of NFC enabled Point of Sale (POS) terminals as a positive catalyst for Carta.”
Currently Carta Worldwide has a growing list of client deployments across four continents. Carta has offices in Canada, the United States, the United Kingdom and Morocco and maintains two state-of-the-art data centers in Canada and Europe.
About Difference Capital
Difference Capital Financial is a specialty finance company focused on creating shareholder value through strategic investment and advisory services in growth companies. Difference Capital provides debt and equity growth capital to technology, media and healthcare-related companies to help them create long-term shareholder value. http://www.differencecapital.com
About DC Thomson
DC Thomson & Co. Ltd. is a private company and is one of the leading media organizations in the UK. With headquarters are in Dundee, Scotland, and a London base in the world-famous Fleet Street, DC Thomson publishes newspapers, magazines and books, and uses its private investment entity to invest in disruptive businesses. http://www.dcthomson.co.uk
Carta’s next-generation technology stack is engineered for the digital and emerging transaction ecosystem. This open architecture enables unparalleled capability for development, deployment and management of world leading transaction solutions.
As a certified Third Party Processor with MasterCard / Visa, and through Payment Card Industry Data Security Standard (PCI-DSS) compliance, Carta offers End to End transaction solutions that provide the highest level of security and reliability with faster time to market, greater control and lower total cost of ownership than their competitors. http://www.cartaworldwide.com