Investment Roundup: Fit Pay, Digital Asset Holdings, Blockstream
The money keeps rolling in for fintech. Fit Pay Inc., a company that makes wearable payment technology, has raised $3.1 million in seed funding in a round led by Giesecke & Devrient, which sells mobile security software to banks and other organizations.
Fit Pay’s payment platform employs NFC, enabling contactless payments. Manufacturers can include the startup’s technology in watches and other wearable devices. Fit Pay says its technology could find uses in transit and secure authentication.
“The Fit Pay platform, in combination with G&D’s capabilities in embedded secure operating systems, applications and credentials life cycle management, brings a complete end-to-end portfolio to Fit Pay’s prospective wearable device partners,” says Scott Marquardt, president, Giesecke & Devrient America.
In other funding news, Digital Asset Holdings, which develops distributed ledger technology for the financial services industry, has added Goldman Sachs and IBM as investors. Digital Asset says it has raised more than $50 million from 15 financial services industry leaders.
In related news, blockchain technology provider Blockstream says it has raised $55 million in a Series A funding round led by Horizons Ventures, AXA Strategic Ventures and Digital Garage, with existing investors also taking part. The company’s technology is used for bitcoin transactions. The technology eliminates third-party intermediaries in favor of cryptographically secured electronic ledgers.