MoBank, a London, UK-based mobile commerce company, has raised £2.25m in funding.
Among others, backers include the Business Angel Co Investment Fund, led by Helen Fowler, which committed £470k, and members of the Envestors network, which committed £156k.
The company intends to use the funding to invest in recruitment, IT infrastructure and partner management programmes.
Led by Dominic Keen, CEO, MoBank focuses on creating transactional systems on mobile, connecting retailers of all sizes with their consumers via mobile every day. Launched in March 2012, MoPowered, its mCommerce platform, supports retailers at every stage of m-site integration from site building, inventory cataloguing and marketing through to mobile checkout.
Envestors Limited is the wholly owned subsidiary of Braveheart Investment Group plc, the AIM-listed investment management group specialising in venture capital investments and investment services to business angels, high net worth individuals, family offices and public sector organizations. The £50m Business Angel Co Investment Fund, which was created with a grant from the Regional Growth Fund, invests alongside business angel syndicates from across England.