Clairmail Gets $13.8M to Improve Mobile Banking
Clairmail, provider of mobile solutions for banking, payment and card services today announced a secured $13.8 million funding from a line up of investors led by Investors Growth Capital. The funds will be used to develop technology infrastructure and service capabilities to cope up with consumer and market demands. Previous investors also joined the line up including JAFCO Ventures, Northwest Venture Partners and Outlook Ventures.
“Adding IGC to our portfolio of investors gives us a strong competitive advantage as we continue to build powerful infrastructure that supports our financial institution customers,” said ClairMail CEO Pete Daffern. “We remain committed to providing the best technology and services to power the adoption of mobile banking and payments. This capital will enable us to invest in key areas of our business, further strengthening our leadership position in the mobile financial services market.”
Clairmail’s increase in quarterly revenue for successive quarters has led IGC, known for investing on growth-stage technologies companies on emerging markets, to become one of the company’s partners. Mobile banking is seen as a promising trend in the market today.
“As a global investor, we have been actively monitoring the mobile banking and payments industry as financial institutions around the world realize that mobile is the strategic channel of the future. ClairMail has demonstrated rapid growth in North America and a greater footprint across international markets,” said Philip R. Dur, Managing Director at Investor Growth Capital. “ClairMail’s best-of-breed mobile banking and payments platform, and expert management team uniquely positions the company to capture strong market share as adoption in mobile financial continues to mature.”
Clairmail processes millions of transaction per month accessible via SMS, mobile web and client application across all mobile devices. They serve customers from retails banks, credit unions and card service companies. Chase and Paypal are also setting their positions on this relatively new trend, curbing total takeover from other virtual payment tools in this Wild West market.
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