Denver, -PIN Payments News Blog- Mocapay, a leader in mobile gift, loyalty, and marketing, is proud to announce today that they have closed $3.0 million in funding from Spartan Mobile, Lacuna and other investors.
“We are very excited to have Spartan Mobile as the lead investor in this round and we look forward to their active role in helping to guide the Company,” said Kevin Grieve, CEO of Mocapay. “To close a funding round in this economic environment is a testament to the momentum of our business and the viability of our business strategy. We continue to see market interest in our mobile commerce services and our ability to support a new-to-market mobile payments and marketing product.”
Currently, Mocapay provides merchants’ the capability to mobile-enable their gift and loyalty programs which allows consumers to transact at the point-of-sale, access their account balance and transaction history, find the nearest merchant location accepting mobile gift and loyalty, and reload their gift account, all from their mobile phone.
In addition, Mocapay customers can take advantage of the Gift-A-Friend application, which enables consumers to send mobile gift accounts to their friends and family directly to their mobile phone from the Mocapay website (www.mocapay.com ).
Proceeds from the funding will go towards supporting new customer implementations, expanding business development efforts, and developing additional enhancements to the mobile commerce platform, for both payments and marketing services.
“We look forward to the opportunity to help Mocapay grow and establish themselves as the leader in the mobile payments and marketing space,” says Chris Martin, investment manager of Spartan Mobile. “We see the tremendous value and potential of Mocapay, as they continue to expand their footprint among merchants’ gift, loyalty, and marketing programs.”
About Mocapay (www.mocapay.com )
Mocapay provides the only mobile commerce platform that supports integrated mobile payments, marketing and distribution at point-of-sale. Mocapay delivers unequaled direct marketing opportunities and customer loyalty to merchants while providing consumers with the unprecedented ability to transact simply and securely with their mobile device and receive real-time promotions from their favorite retailers.
About Spartan Mobile
Spartan Mobile is an investment fund out of Dallas, TX that has invested in the mobile space since 2005, specializing in mobile marketing, information and promotions. Spartan, backed by the Headington Group, provides capital, manpower, and takes an active role in helping to guide its companies to continued success.
About Lacuna (www.lacuna.com )
The Lacuna Venture Fund is a pioneer in the concept of Gap Capital, which helps early-stage companies negotiate the gap between product innovation and marketplace adoption. The company provides financial capital and go-to-market expertise to accelerate the success of promising entrepreneurial companies.
Source: Company press release.
