Licentia, a London-based technology services and IP licensing company, has closed a £15m($20m) Series B round.
The round was facilitated by the Company’s long-time advisor Asia Principal Capital. Licentia owns MYPINPAD, a provider of payment acceptance and customer authentication software solutions, and an owner of MYHSM, a company established to provide dedicated direct hosting service of Thales payShield Hardware Security Modules (HSMs) for the global payments sector.
MYPINPAD is a PCI Software-Based PIN Entry on COTS (Consumer off-the-Shelf devices such as smartphones and tablets) certified vendor compliant within the published PCI standard. Its mPOS cloud hosted solution enables Merchants, Acquirers and Payment Service Providers (PSPs) to deploy PIN on Mobile (PoM) technologies without the need to undergo their own PCI SPoC certification.
Philip King, chairman and CEO, commented: “We are delighted to have received this level of support from our existing investors. The timing could not be better. MYPINPAD and its sister company MYHSM, are focused on the removal of complexity from global payments acceptance and consumer authentication.
“This funding will allow both companies to ‘scale’ to meet the demand they have created unfettered by capital constraints. We are now in a strong position to attract the best Sales, Support and Technical Development talent to join our established first-class team in London and in Cardiff.
By removing the complexity and PCI certification hurdles, the company aims to enable all Merchants to deploy a PoM solution simply and quickly. Its hosted ‘HSM as a Service’ has been created to remove complexity and cost in managing HSMs, driven by market demand from businesses that do not wish to purchase, host or manage physical HSMs but would prefer a managed or virtual cloud-based service.
Asia Principal Capital is a corporate and strategic advisory firm specialising in technology acceleration and partnerships with high growth, differentiated companies, with a global outlook
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