Mobile finance startup Tyfone secures $5 million in Series B

Mobile banking and contactless payment solutions provider Tyfone closed a Series B financing round totaling $5 million, led by new strategic investors HDFC Holdings Ltd. and Polaris Software Lab as well as an unnamed strategic manufacturing partner--existing investor Ojas Venture Partners also participated in the round. Tyfone's u4ia platform and companion SideTap memory card solution enable a suite of services including mobile banking, mobile identity management, remote payments and NFC-based payments. The firm said it will earmark the new capital to accelerate SideTap production and scale its business across the couponing and loyalty solutions segments.

For more on the Tyfone funding:
- read this release

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