CardFlight raises $4.2 Million for mPOS Business

CardFlight, a mobile POS technology provider, recently announced it has succeeded in raising $4.2 million in Series A funding.

The round was in fact co-led by the investor group assembled by Dan Henry and MATH Venture Partners, based on a press release. According to CardFlight, the funding will allow the company to continue growth—specifically in regard to its engineering team.

In addition, it will speed up the rollout of their EMV-approved mobile payment acceptance products in the United States.

Henry had previously served as the CEO for the prepaid card provider NetSpend from 2008 until 2014.

“The team at CardFlight has a deep understanding of the opportunities and challenges in deploying payment solutions on mobile devices,” Henry commented. “I’m excited to help them continue to expand their business.”

MATH Venture Partners is based out of Chicago, and is considered an early-to-growth –stage fund that is managed by a well trained and experienced team of interactive investors and operators.

“Mobile point of sale is one of the fastest growing segments of the payments industry,” commented Troy Henikoff, Managing Director at MATH. “CardFlight has already built an impressive customer base and we’re excited to help their team grow from here.”