Ant Financial, the operator of online payment service Alipay, provided the funding alongside existing backer IPV, taking its total funding to $16m.
US-based mobile cryptography company V-Key has secured $12m in a series B round featuring Ant Financial Services Group, the operating company of online payment service Alipay.
IPV Capital, the early-stage venture capital firm that led V-Key’s $4m series A round in 2012, also participated.
Alipay, part of China-based online portal Alibaba, handles more than 80 million financial transactions each day. It will seek to benefit from V-Key’s encryption technology, which could make the transactions more secure.
Jason Zhu, head of…
