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Secure Transactions News

Inside contactless receives US$25 million funding

Thursday 7 September 2006

It will also reinforce Inside's research and development efforts, and accelerate new product introduction across the company’s two major business lines in Payment and NFC (Near Field Communication). This investment comes after a previous funding round in 2005 amounting to US$ 10.6 million (EUR 8.3 million).

Inside contactless shareholders now include:

  • Granite Global Ventures, expansion-stage venture capital firm with a highly diverse team managing over US$400 million from its offices in Silicon Valley, Shanghai, and Singapore. GGV’s portfolio includes Alibaba.com, 2Wire, AAC Acoustics and Sirna Therapeutics. GGV Venture Partner, Lee Kheng Nam was the President of Vertex Management, a global venture capital firm, for 20 years.
  • Sofinnova Partners, one of Europe's leading independent venture capital firms. With EUR 900 million under management, Sofinnova Partners invests in start-ups and early-stage companies in information technology and life sciences. Sofinnova Partner Jean Schmitt was the founder and president of SLP Infoware.
  • Vertex Venture Capital, a top-tier player in the international venture capital arena; headquartered in Tel Aviv and with representatives in Europe, Singapore and Japan. Vertex is a long-standing investor in Inside Contactless.
  • GIMV, a Belgian investment company established in 1980. GIMV is quoted on Euronext Brussels. Its purpose is to invest in the equity of unlisted companies (private equity).