Santa Clara, Calif.-based ViVOtech, a provider of contactless and NFC mobile payments solutions, announced it has closed $8.6 million extension to its Series C round of funding from its existing investors, bringing the total series C investment to more than $40 million.

In today’s worsening economic climate, the move is significant in that it demonstrates investors’ continuing confidence in ViVOtech, said the company’s CEO Michael Mullagh.