CellPoint Mobile Eyes Global Expansion with $13.98 Million Funding for Product Innovation
Leading mobile commerce and payment solutions provider, CellPoint Mobile announced a $13.98 million equity financing round. The funding is provided by Toscafund Asset Management LLP and managed by Penta Capital, the private equity arm of Toscafund.
What CellPoint Mobile Plans to Expand?
Currently, CellPoint Mobile offers an integrated digital platform for a large base of Mobile users. This platform already enables travel merchants to optimize the full customer sales cycle (Promotion, Sell, Pay and Serve). This, in turn, helps to increase sales conversions and offer a seamless customer experience across all digital channels.
Travel merchants can also implement CellPoint Mobile’s unique payment platform to control and optimize their payment strategy. The payment platform provides access to a proprietary payment eco-system and enables fast implementation of alternative payment methods, global or local card schemes, and multiple acquirers.
With the latest funding, the company is expected to attract new customers and help them optimize their Digital and Mobile Commerce Experience for users.
Kristian Gjerding, CEO and co-founder of CellPoint Mobile, said, “The new investment will enable us to further scale our team globally as well as drive additional innovation into our unique platform, especially in the area of intelligent analytics.”
CellPoint Mobile provides a highly-successful omnichannel digital and mobile payment platform for leading Travel and Airlines companies. They have a well-bridged solution network integrating with the sell-side and payment side of every travel transaction. The latest funding round would enable the company to further build and consolidate the Payment platform. This would enable merchants to generate higher revenues and capture better mobile insights from every customer.
The financing round comes after CellPoint Mobile reported a very strong period of expansion in the last 10-12 months. During which time, the company serviced numerous new travel brands that were added to its customer base. Some of the leading names include Southwest Airlines, GOL, Viva Air, Ethiopian Airlines and Chiltern Railways.
At the time of this announcement, Steven Scott, Partner at Penta Capital, said, “We are very excited to finance CellPoint Mobile’s next phase of expansion”.
Steven added, “CellPoint Mobile is solving the most critical problem that travel companies face today: the optimization of their entire path to purchase across all their digital channels. We see a unique growth opportunity and look forward to working together with the company’s experienced management team to support this new phase of development.”
“CellPoint Mobile has an exciting expansion plan and we are delighted to partner with Penta Capital to accelerate our company’s development,” said Paul Glover, CFO of CellPoint Mobile.
Paul added. “Penta Capital and Toscafund have a solid track record of investing in high-growth companies and their commitment is a testament of not only our market traction to date but also our growth potential by delivering high ROI digital solutions to travel companies.”
Established in 2007, CellPoint Mobile is a native mobile company that started by successfully launching a mobile solution for Danish Rail and then expanded rapidly into the airline market, with Emirates as its first airline client. The company now has 130 employees located across 7 offices and serves over 30 clients globally.