Masabi Secures $4M from m8 Capital

Funding Rounds

▤ Summary

Masabi, a London, UK-based developer of mobile phone ticketing technology, has secured $4m from m8 Capital.The funding will be used to support deployments with multiple rail companies in the UK, and for the development of new service features, including NFC technology.It will also help facilitate expansion into new markets, particularly the US.Since securing its Series A funding round in September 2010 (read here), Masabi has launched mTicketing services including Cross Country Trains, thetrainline.com, Virgin Trains and Chiltern Railways.Led by CEO Ben Whitaker, Masabi has developed applications that turn mobile phones into personalised ticket machines, allowing people to securely purchase and display tickets on most handsets currently in use.

$ Funding

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Amount $4.0M Total raised
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Date November 2, 2011 Announcement date
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Investors M8 Capital Lead investors
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Company http://www.masabi.com Funded company

▥ Classifications

industries
Entertainment
applications
Customer Service & Support

◇ AskAI Classifications

Labels
Transportation Software SaaS Fare Payment Solutions

▦ Linked Companies

Masabi
$10M to $25M