London-based mobile phone ticketing company Masabi is receiving $4 million (£2.5 million) from mobile technology investment business m8 Capital.
The money will be used to support m-ticket deployment with UK rail companies, for the development of new service features (including NFC) and to help Masabi expand into new markets.
Masabi allows people to purchase train tickets on most mobile handsets, not just smartphones. Once people have bought a ticket, their phone can be scanned at the gate or by a train guard. Masabi’s mTicketing services are already used in the UK by Cross Country Trains, thetrainline.com, Virgin Trains and Chiltern Railways, with additional UK rail brands set to go live in the coming months.
Ben Whitaker, CEO of Masabi, said “We have received overwhelmingly positive feedback from consumers using our mTicketing solutions, proving that mobile phones can revolutionise the way we travel. This funding and m8 Capital’s experience will be instrumental in bringing our applications to new markets, making transport mTicketing a truly global phenomenon.”
|We’ve previously spoken to Ben Whitaker on a couple of occasions; you can listen to the interview from June last year on our website, via iTunes or by downloading the MP3 file.