Many innovators have taken up the challenge to make mobile payments easier and safer, and as technology develops there are a number of important features that we're keeping an eye on. Easy-to-use is a critical component of success and so removing unnecessary hardware is a great first step. Invoicing, trackable receipts and online bill payment are also features that consumers desire in an all-in-one solution. Low transaction fees are another consideration for mobile users; because once a customer makes the switch to paying on mobile it often becomes the de facto method for nearly everything.
We have been working with Flint for some time because we saw its unique approach to solving some of these technological challenges with mobile payments, and today we are proud to have led the company’s Series C round of $9.4 million. Flint has raised $20.4 million in total funding to-date to focus on enabling small business owners to run their business from the palm of their hand. Designed for businesses that operate outside of traditional retail stores, Flint’s iOS and Android apps allow users to take credit cards without a card reader – by scanning instead of swiping – or via online invoice payments.
With Flint’s new “sell online” feature allowing a clickable button for purchases that can be embedded on a website or sent via email, Facebook, or other social networks, Flint is making great strides when it comes to customizing and streamlining mobile payment solutions for small businesses and individuals.
As Flint CEO Greg Goldfarb noted today, “Initially we simplified mobile payments for this audience with card scanning instead of swiping. Now we’re taking friction out of selling online for the same types of businesses and are excited about the growth opportunity ahead.”