Powa Technologies Raises $76 Million

Posted Aug 21, 2013

Powa Technologies is a U.K. based mobile payments company that has raised $76 million in their first round of funding.  Powa Technologies has created a credit card processing dongle called mPowa.

mPowa competes with similar devices as Square, PayPal Here, and Intel GoPayment.

mPowa can be connected into the audio jack of a smartphone or tablet.  Powa is also preparing a chip and pin card reader in the U.K.

Powa Technologies CEO Dan Wagner put $20 million into the company before raising funding from outside sources.  Powa did not disclose the investors in this round.

[Source: TechCrunch]