Smart Business Deal of the Week, Mezu: New Venture, Old Friends

Who: Mezu

What: CEO Yuval Brisker raises $10 million to launch a new mobile payment app with an emphasis on anonymity

Why it matters: After selling TOA Technologies to Oracle in one of Ohio’s biggest VC-backed tech success stories, Brisker is looking to do it again — this time in fintech

Yuval Brisker is back.

After selling TOA Technologies in 2014 to Oracle in one of the biggest VC-backed deals for an Ohio tech company, Brisker has just raised $10 million to build Mezu, a mobile payment app that seeks to mimic the transactional ease of cash.

Working with some familiar faces from his TOA days, Brisker self-funded the project until this month, when Mezu announced it had received funding from Draper Triangle Ventures, JumpStart Inc., Draper Associates, Ohio Innovation Fund and North Coast Angel Fund.

Draper Triangle was a recurrent investor in TOA, contributing from the Series A round through the Series E round. Brisker turned to the Pittsburgh-based VC firm for his new venture largely because of trust and familiarity.

“I didn’t have to think twice,” Brisker says. “The first call I made was to them. I know them. They’re amazing investors. They’re huge supporters of entrepreneurs.”

In our Deal of the Week, we look at how Brisker leveraged his success and relationships at TOA to get Mezu up and running.

Read the full story at Smart Business.