LOUISVILLE, KY - MOBIbucks, which sells cardless mobile payment and marketing software, has raised $5 million in Series A funding. Acadia Woods Partners, a New York-based technology, media and life science venture capital firm, led the round which also included the participation of several new and original angel investors.
The investment fuels MOBIbucks’ growth in key markets around the world and funds customer service in support of new installations.
MOBIbucks is the only mobile payment solution for making purchases using just a mobile phone number — it does not require cash, a card or even a mobile phone to be in the user’s possession to be used. The company’s mobile marketing and rewards solution is a powerful, paperless, cardless merchandising tool to offer coupons, loyalty rewards, gift cards and even online ordering.
“We believe there is an enormous market for mobile commerce applications, in which MOBIbucks is positioned to be a leader. MOBIbucks offers the first cardless, mobile phone agnostic, wireless operator independent, free from card association road blocks payment platform,” said Jorge Fernandes, CEO of MOBIbucks.
Fernandes has a point. Mobile commerce looks as if it may eventually dominate digital commerce and easy payment methods are likely to help fuel its growth.
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