Mocapay closes funding round with $3.0 million

Mocapay, that provides the only mobile commerce platform supporting integrated mobile payments, marketing and distribution at point-of-sale, announced Wednesday about securing of $3.0 million in funding from Spartan Mobile, Lacuna and other investors.

Mocapay’s CEO Kevin Grieve said, that the company is delighted to have Spartan Mobile as the lead investor in this round and believes it will support actively Company’s guide. “To close a funding round in this economic environment is a testament to the momentum of our business and the viability of our business strategy,” he stated. “We continue to see market interest in our mobile commerce services and our ability to support a new-to-market mobile payments and marketing product.”

Currently, Mocapay provides vendors with the capability to mobile-enable their gift and loyalty programs that let consumers carry out their transactions at the point-of-sale, access their account balance and transaction history, find the nearest merchant location accepting mobile gift and loyalty, and reload their gift account, all from their mobile phone. 

Moreover, Mocapay’s customers will get benefits from the Gift-A-Friend application, which allow them to send mobile gift accounts to their friends and family directly to their mobile phone from the Mocapay website.