Investment company First Growth Funds has taken a stake in payments business SQID Technologies, in advance of SQID's ASX listing.First Growth announced that it had secured 15 per cent of SQID. Its initial investment includes a A$500,000 payment that is being held in trust and will be returned if a listing does not proceed. A further investment will be made upon listing.SQID has been in the market since 2006. It describes itself as an "approved payment aggregator connecting to the banking system via Westpac." It provides mobile and ecommerce payments, and in-store terminals.It claims to have developed multi-factor security technology that "delivers the world's most secure remote payment and identification solutions."SQID processed $80 million of transactions last year and is on track to process $60 million in the first half of this year.First Growth Funds has a portfolio of investments that includes CCP Technologies, an internet of things business; YPB Group, which has developed a smartphone app for identity verification; and FutureICO, an initial coin offering issuance platform.