Austin mobile payment company adds $1.4M funding

Dec 16, 2013
Austin Business Journal

Mobile payment software maker SimplyTapp Inc. reported completing a $1.4 million financing

The Austin-based company collected the capital from four investors, according to a Friday filing with the U.S. Securities and Exchange Commission

SimplyTapp, which launched earlier this year as NewBoat Technologies Inc., developed a near-field communication application designed to enable users to make transactions with smartphones. It was founded by CEO Douglas Yeager and Ted Fifelski

Yeager was previously the founder and CEO of TradeWind Technologies LLC, a Tennessee-based developer of radio frequency identification, or RFID, readers. In 2006, the company was acquired by Canada-based Sirit Inc. in a deal worth CDN $1.7 million

Fifelski is a financial analyst for a technology valuation firm, at which he specializes in research and trend analysis, according to the SimplyTapp website

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