Transaction Wireless Raises $2M

Transaction Wireless, a San Diego startup founded in mid-2006 by Basil Abifaker, raised an additional $2 million in a Series B round of venture funding from San Diego-based Mission Ventures and Okapi Ventures of Laguna Beach, CA. Transaction Wireless, which has developed mobile payment processing technology, raised $2.25 million in September 2008, shortly before the startup was incorporated. The company’s wCharge technology allows merchants to accept credit card payments using only a mobile phone. Abifaker was previously a co-founder of Tourmaline Networks, which was acquired by Intellisync, and later, Nokia.

Bruce V. Bigelow is the editor of Xconomy San Diego. You can e-mail him at or call (619) 669-8788 Follow @bvbigelow

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