Card digitisation technology provider Sequent has achieved the first close of a round led by TIS that also includes corporate venturing unit SBT Ventures.

TIS, a subsidiary of IT services provider TI Intec, has led the first close of a $16m series C round for US-based card digitisation technology provider Sequent.

SBT Ventures, the strategic investment arm of financial services firm Sberbank, also participated in the round along with early-stage investment firm Opus Capital and family office Jado Investments.

Sequent has developed technology that enables banks and other card issuers to securely digitise their credit, debit, transit, loyalty or ID cards so they can…