MobiCart Raises £300K in Funding

MobiCart, a Newcastle upon Tyne, UK-based mobile commerce startup that allows developers to build and manage a storefront natively for iOS and Android or as a HTML5 app, has raised an additional £300k in funding.

Backers include existing investor Finance for Business North East Proof of Concept Fund, which is managed by Northstar Ventures, and Yorkshire Association of Business Angels.

The company intends to use the capital to launch the second version of its solution early next year, as well as to expand its development and sales efforts.

Launched in September 2010 by CEO Wladimir Baranoff-Rossine, who was joined by CTO Ian pringle, MobiCart provides a fully-hosted platform that enables companies to launch and manage a mobile commerce store, either as a native iOS or Android app, or via HTML5. The company has US offices in San Francisco, California.
In addition to the funding, Mark Feingold, SECPay founder, is joining MobiCart’s Board.



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