According to reports, MymCart, a Manchester, UK-based start up that provides a self serve mobile commerce platform, has raised £475k in funding.
Backers include the Finance for Business North East Technology Fund, which committed £350k, and a group of private angel investors, which injected £125k. Reportedly, the company will receive a further £500k investment by the Finance for Business North East Technology Fund, subject to reaching its initial business targets.
The company intends to use the funding to expand into the North East.
Led by managing director Mark Kuhillow and Chairman Philip Hunt, MymCart provides small businesses with a platform to create a mobile-optimized branded website and accept payments for their products and services via a smartphone.