TechCrunch
V-Key, a security software maker for mobile apps, has raised $12 million from Alibaba Group affiliate Ant Financial Services and IPV Capital, a venture capital firm based in China. The Series B round means that Ant Financial now has a minority stake in V-Key, which is based in Redwood City, California.
V-Key’s V-OS technology is supposed to provide a user-friendly way to protect data including identity verification and e-commerce transactions. The company, which also has offices in Singapore, says that V-OS is already deployed on “millions” of devices throughout the world.”
A close relationship with V-Key will come in handy for Ant Financial because it operates several mobile and online financial services, including Alipay (China’s largest third-party online payment platform, which handles 80 million transactions a day, including 45 million through mobile devices); Alipay Wallet, online investment fund Yu’e Bao; Zhao Cai Ba, a loans marketplace for small businesses; Ant Credit; and MYbank, which is currently under formation. Ant Financial hopes to expand several of these businesses into international markets, as well as within China.Read More