Powa Technologies, a U.K.-based mobile payment specialist, has received $20.7 million in investment. The company's PowaTag service allows consumers to make mobile payments in less than three seconds for goods purchased online, from physical stores or from magazine, TV and radio ads.

Powa Technologies said it will shortly launch its PowaTag platform, which lets consumers buy a product by snapping a photo of it on a smartphone.

The new funding, added to an investment of $76 million received at the end of 2013, brings total Series A investment in Powa Technologies to $86.7 million.

According to The Daily Telegraph, both investments came from Boston-based Wellington Management. "Despite the risk and the scale of the investment, Wellington Management's slice of Powa is under 25 percent," Dan Wagner, founder and CEO of Powa Technologies, told the Daily Telegraph.

"The $96.7 million is the largest Series A investment for a start-up U.K. technology company," Wagner said in a press release. Wagner said he wants to take Powa's mPOS and m-commerce innovations to the global market. The company already has 14 offices worldwide.

"PowaTag is the future of true multi-channel retail and advertising," Wagner said in a statement. "It enables merchants and businesses to collect smart data about their customers, products and promotions, develop marketing campaigns and extend the reach of traditional and not so traditional advertising channels."

According to Wagner, interest in Powa's products and services is coming from retailers, manufacturers and brands across the globe, as well as from banks, telecom companies and payment processors.

Learn more about mobile marketing.