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 was the editor of Xconomy San Diego from 2008 to 2018. Read more about his life and work here. Follow @bvbigelow

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