Henry Heads Investment in M-POS Provider CardFlight (Oct. 14, 2015)
Dan Henry has been mostly quiet since leaving his role as CEO of NetSpend last year, but the payments pioneer has now dipped a toe back into the industry, investing in m-POS provider CardFlight. Henry co-led the $4.2 million Series A funding, along with MATH Venture Partners. New York City-based CardFlight will use the financing to expand its m-POS suite, which last month became one of the first m-POS systems certified to process EMV chip cards in the U.S.
Along with Henry, the investment round features other payments industry veterans, including Stuart Harvey, former CEO of U.S. Bank subsidiary Elavon, and Mark O’Connell, chairman of Multi Service, a provider of commercial billing and closed-loop payment services. Silicon Valley Bank also participated in the round.
“We all clearly and quickly saw the value of the CardFlight offering and the potential of the business,” Henry tells Paybefore. “Each of us is available to [CardFlight] to provide advice, introductions, influence and references. Whatever we can do to help accelerate growth and make the business successful.” Henry says he would welcome the opportunity to invest in and support additional companies like CardFlight in the future.
“We’re excited to be adding investors with such deep experience growing and scaling startups in the payments industry,” said Derek Webster, founder and CEO of CardFlight. “This round of funding further validates CardFlight’s leadership in mobile payments and will enable us to roll out even more advanced solutions in the months and years ahead.”
Along with being one of the biggest names in payments, Henry was for many years a staunch advocate of the prepaid industry, having testified before Congress and met often with the CFPB. In 2014, he was recognized as a Paybefore Awards Industry Achievement winner. In July of that year, Henry announced he would step down as CEO of NetSpend—a role he’d held since 2008—to spend more time with his family. Before his tenure at NetSpend, Henry spent nearly 13 years growing Euronet Worldwide, a global payment services provider he helped found in 1994.