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.