Tapingo Raises $3.5M from Carmel Ventures
Tapingo, a San Francisco, CA-based provider of a mobile commerce platform enabling students to use their phone to order and pay for food and goods at merchants on and around college campuses, has raised $3.5m in its first financing round from Carmel Ventures.
In conjunction with the funding, Shlomo Dovrat, Co-Founder and General Partner of Carmel Ventures, has joined the company’s board of directors.
Tapingo intends to use the funding to accelerate sales and marketing efforts throughout the United States.
Led by Daniel Almog, CEO, the company provides students with a real-time view of merchant inventories and multiple payment options, including credit cards, PayPal, and campus cards. Tapingo is commercially available on a number of college campuses in the US and plans to expand significantly in the fall of 2012.
The company has an R&D center in Tel Aviv, Israel.