Tyfone Nabs $5M

Thea Chard8/20/10

Portland, OR-based Tyfone, which develops mobile software for contactless payment services, has raised $5 million in equity from an undisclosed investor, according to a regulatory filing. The company partnered with Atlanta, GA-based e-commerce and payment processing company First Data in March, to offer SideTap micro secure digital (MicroSD) memory cards equipped with Tyfone’s technologies, which it says will transform any mobile phone with a memory slot into a mobile contactless payment device. The company, founded in 2004, has previously been backed by Bangalore-based Ojas Venture Partners.

Thea Chard is a correspondent for Xconomy Seattle. You can e-mail her at theachard@gmail.com or follow her on Twitter at http://twitter.com/theachard. Follow @