Difference Capital Financial is investing $2 million and will taking a 5% stake in Carta, a Canadian mobile payments company.
Carta is a transaction processing and technology company that specializes in prepaid, mobile and emerging payments. The companys platform is designed to connect between a companys existing payments infrastructure and emerging digital payments.
DCF has invested $2 million in Carta in the form of common shares and warrants, resulting in an approximate 5.0% diluted stake in the company. This investment provides DCF with exposure to the fast-growing mobile payments sector.
"We continue to see measurable growth in the mobile payments sector, as banks, telecom providers and retailers look to capitalize on these new payment technologies. Our investment in Carta underlies our belief in their leading proxy payments technology, which we believe will enable unique new mobile wallet applications," said Tom Liston, managing partner at Difference Capital, in a Sept. 30 press release.
The Oakdale, Ontario-based Cartas products include the MasterCard Mobile-Over-The-Air-Provisioning Service (MOTAPS), an NFC deployment service. Carta also recently introduced a payments product for the U.K. scrap metal industry.