FIint Mobile, a mobile payment service, has announced that it has secured $9.4 million in Series C funding.
The Redwood City, CA (News - Alert)-based company will use the money to target businesses that operate outside traditional storefronts.
“More than 17 million independent businesses in the U.S. provide a significant portion of their goods and services in flexible or transient work environments. They range from contractors, photographers and consultants to health, beauty and fitness professionals,” Flint CEO Greg Goldfarb said. “By enabling these businesses to run core revenue functions like payments, invoicing, couponing, and now online sales from a single app and focusing on ease of use, we are well positioned to become the leading mobility platform for a large market segment.”
The bulk of the funding came from Verizon Ventures, a subsidiary of the major mobile carrier Verizon. Other firms investors included Digicel, Storm Ventures (News - Alert), True Ventures and Peninsula Ventures.
The new funding follows an earlier round of Series B funding of $8 million last year and a round of Series A funding of $3 million in 2012. This brings the total amount of funding to $20.4 million.
Flint has already attracted some loyal customers for its ability to generate online stores on their mobile devices easily. Clients can build e-commerce features into their websites. The company has also introduced the ability to send coupons to the iPhone (News - Alert) Passbook and into the new Apple Pay mobile payments platform. The company’s new “sell online” feature eliminates the need for clients to process payments themselves.
New York City-based photographer Ben Esner is a customer, and exemplifies the kind of mobile-based customer Flint is targeting.
"I need to create an invoice when someone schedules a session, collect a deposit, and then collect the balance at the shoot. Flint lets me do it all from my smartphone and saves me hours every week,” Esner said. “It gives me an easy way to see all of my client transactions in one place, and I also recently started sending out coupons to help generate more business.”
Edited by Maurice Nagle
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