Significant Market Momentum and Opportunity Drive Investment
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TAMPA, Fla., Jan. 05, 2023 (GLOBE NEWSWIRE) -- Mad Mobile Inc., a global leader in Connected Commerce and mobile payments for retailers and restaurants, announced today 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 mobilization of retail and restaurants has accelerated. Mad Mobile 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 $3B 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.
About Mad Mobile
Mad Mobile is building the next-generation digital and mobile experiences globally for more than 21,000 major retail and restaurant locations. Our 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. To learn more, visit https://madmobile.com.
About Eastward Capital Partners, LLC
Founded in 1994, Eastward Capital Partners is a provider of private debt financing to technology-enabled companies. Since its inception, Eastward has provided financing solutions to more than 160 companies across industries, including Software, Communications, Healthcare Technology, Business Services, and New Media. Eastward Capital Partners is based in West Newton, Massachusetts.
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