UK: Mobile phone ticketing technology developer Masabi announced it had secured US$4m from mobile technology venture capital fund m8 Capital on November 2.
This will support further mobile ticketing deployment in the UK, the development of features including NFC and expansion into new markets, particularly the USA where Masabi says it is seeing strong interest.
Masabi's applications allow passengers to purchase and display tickets 'on almost any' mobile phone handset, and not just smartphones. Once passengers have bought a ticket, their phone can be scanned at the gate line or by onboard staff. It has launched mTicketing services for operators including Virgin Trains, CrossCountry, TransPennine Express, Hull Trains, Chiltern Railways and ticket retailer thetrainline.com, and further deployments are imminent.
'Mobile phones can revolutionise the way we travel', said CEO Ben Whitaker. 'This funding and m8 Capital's experience will be instrumental in bringing our applications to new markets, making transport mTicketing a truly global phenomenon.'
