ClairMail, a company that creates a mobile banking and payments platform, has raised $13.8 million in funding led by Investor Growth Capital with JAFCO Ventures, Norwest Venture Partners and Outlook Ventures participating in the round. This brings the company’s total funding to nearly $35 million.
ClairMail’s technology is fairly simple. The platform helps power mobile banking and payments for financial institutions. ClairMail processes millions of transactions per month for its customers across retail banks, credit unions and card service companies, allowing consumers to make payments and access banking information via SMS, the mobile web and client applications, across a variety of mobile devices.
ClairMail, who counts eight of the top 12 North American banks as customers, have seen a 300 percent year-over-year increase in revenue for the second quarter ending June 2010. The company will use the new financing to hire additional engineers and grow its technology infrastructure.