HomefundingMOBIbucks Raises $5m in Series A Funding

MOBIbucks Raises $5m in Series A Funding

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MOBIbucks, a Louisville, KY-based provider of mobile payment and marketing solutions, has raised $5m in Series A funding.

The round was led by Acadia Woods Partners, with participation from new and existing angel investors.

MOBIbucks intends to use the funds to expand internationally.

Led by founder and CEO Jorge Fernandes and president Tom Recktenwald, MOBIbucks provides mobile payments and mobile marketing solutions that allow users to make purchases using a mobile phone number, without the need for a phone in their possession.
Based upon a patent-pending technology platform, the company also provides a tool that enables banks and merchants to offer coupons, loyalty rewards, and gift cards to engage consumers.

Customers include Abu Dhabi Commercial Bank (ADCB), a UAE-based bank.

In the past few months, MOBIbucks has signed on several major restaurant chains in the US.

FinSMEs

05/07/2011