Mad Mobile raises $20m in new funding

By Edlyn Cardoza

Mad Mobile Inc., a global leader in Connected Commerce and mobile payments for retailers and restaurants, announced that they have raised $20 million in financing from Eastward Capital Partners. This capital infusion will accelerate further development of Mad Mobile’s unique technology platform for modern point-of-sale and payments and will fuel commercial market growth.

“Major retailers and restaurants are seeing significant sales lift and valuable labor efficiencies when they deploy the Mad Mobile platform as a full commerce solution or on top of legacy POS systems,” said Bruce Bennett, Chief Executive Officer of Mad Mobile. “This investment acknowledges the sizable market opportunity before us as traditional point-of-sale evolves into a Connected Commerce experience for both online and in-store.”

Mad Mobile has experienced substantial growth in recent years as the mobilisation of retail and restaurants has accelerated. The Company offers retailers and restaurants a complete solution for modern point-of-sale with mobile POS, mobile ordering, self-checkout, clienteling, mobile fulfillment, and contactless payment. As a FinTech player, Mad Mobile’s platform processes more than $3 billion in payments annually. Mad Mobile is a go-to-market partner for some of the most trusted names in mobility and enterprise software, including Apple, Samsung, Amazon, and Salesforce.

The Company is building the next-generation digital and mobile experiences globally for more than 21,000 major retail and restaurant locations. Their unique platform creates seamless modern point-of-sale transactions that reimagine how businesses connect with their customers. Top customers include Ralph Lauren, Tractor Supply, Meijer, Texas Roadhouse, Talbots, Aramark, Estee Lauder, Signet Jewelers, PF Chang’s, Brooks Brothers, Urban Outfitters, Ike’s Love & Sandwiches, Pandora, Snipes, West Marine.