mCASH Secures NOK43M in Venture Funding

mcashmCASH, a Norway-based mobile payment startup, secured NOK43m in venture funding.

Backers included Northzone and Entrée Capital. In conjunction with the funding, Entrée Capital’s founding partner Ashley Head will join mCASH’s Board of Directors.

The company intends to use the funds to launch and deploy of mCASH in Norway and internationally.

Led by founder and CEO Daniel Döderlein, mCASH has developed a new payment solution that connects banks, merchants and customers through a real-time infrastructure. With the mCASH app, users can connect their mobile phone to a bank account, credit account and credit card and get and transfer money to any phone number in Norway.
The company has the license to operate within the EU from the Financial Supervisory Authorities of Norway and is launching their payment services February 2014 in Norway.

mCASH employs 17 people and is continuing to hire.



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