MobiCart, the mobile commerce startup that makes it easy to build and manage a storefront natively for iOS and Android or as a HTML5 app, has raised a further £300k (approx. $500k). In what is effectively a follow on round, the new funding comes from previous backer, Northstar Ventures-managed Finance for Business North East Proof of Concept Fund, in addition to the Yorkshire Association of Business Angels.
This brings the total raised by MobiCart to around $1 million, having previously also raised £100k from ex-Google European Director of Online Sales and Operations, Stephen Lusty, and comes at a time when the company has bagged its 11,000th customer.
Launched in September 2010, MobiCart provides a fully-hosted platform to make it easy for companies to launch a dedicated m-commerce store, either as a native iOS and/or Android app, or targeting the mobile web via HTML5. In addition to providing the storefront builder tools, charged as a monthly subscription depending on needs (e.g. number of items in the store), MobiCart also offers to handle the relevant app store submission process, while it can be used completely standalone or tie into a company’s existing website/e-commerce solution and inventory.
Today’s additional funding will be used to launch version 2 of MobiCart early next year, as well as ramping up its development and sales efforts.
Also being announced today is that SECPay founder, Mark Feingold, is joining MobiCart’s Board. He’s said to bring “significant expertise” in the online payment sector, having previously co-founded SECPay, which processes real-time card payments for goods and services bought over the internet, and was bought by PayPoint for a reported $20 million in 2007.