Sequent, a US-based provider of trusted service manager (TSM) software, has closed $12m in series B funding led by SBT Venture Capital , the early stage strategic venture capital fund whose principal investor is Russia-based bank Sberbank.  Existing, financial investors Opus Capital and Jado Investments also participated.

The funding will be used to scale up commercial deployments of Sequent’s near-field communications platform, which enables consumers to securely download payment cards and other credentials to their mobile devices.

Previously, Sequent raised an undisclosed amount of series A funding in May 2011, led by Opus Capital and SK Telecom Ventures, the corporate venturing unit of Korea’s largest phone operator.

Mircea Mihaescu of SBT Venture Capital, who  will join the company’s board, said: “We evaluated several opportunities and concluded that the Sequent team has created the best solution in both breadth and depth for service providers as well as secure element owners.  We…

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