Tag: mobile commerce platform

Clutch raises $5.3 million to support mobile commerce development

| August 8, 2013

Firm raises funds to help power mobile commerce expansion

Mobile commerce firm Clutch has raised $5.3 million during its Series B funding initiative. The company focuses on providing innovative mobile commerce services through the combination of electronic gifting, loyalty programs, and merchant rewards. The firm’s services have become relatively popular throughout the mobile commerce sector, especially among businesses that are interested in engaging consumers with smartphones and tablets. Part of the appeal of Clutch has to do with the company’s ability to combine several services into a singular platform, making mobile commerce somewhat more approachable.

Funding to help Clutch add new features and perfect those that already exist

Safeguard Scientifics, a capital and operational support provider for health care and technology companies, contributed the majority share of Clutch’s latest round of funding. The funds raised will be used to make progress in the development of Clutch’s mobile commerce platform. New business-to-business features will be introduced into the platform to make it more accommodating of the needs that businesses have when it comes to mobile commerce.

Mobile Commerce fundingClutch acquires loyalty program provider ProfitPoint

Clutch is not only raising money to support its mobile commerce platform, of course, as the company recently announced its acquisition of ProfitPoint, a provider of loyalty and gift programs. The acquisition is expected to help Clutch further develop its own loyalty programs and make them more valuable to businesses. Clutch has also acquired Sqoot, an aggregator of deals being offered by Goupon, Living Social, and Yelp.

Loyalty programs becoming more important as mobile commerce grows

According to Clutch, retailers that utilize loyalty programs experience a 46% increase in purchases coming from consumers. With more consumers beginning to show serious interest in mobile commerce, loyalty programs are becoming more important for retailers. These programs provide retailers with a way to ensure consumers continue purchasing products from them rather than their competitors. While mobile commerce allows consumers to be very flexible in their shopping, those using their smartphones and tablets to purchase products have shown a tendency to stick to a single retailer or a small group of retailers that can provide everything they need.

Mobile payments platform receives $2 million in funding

| April 26, 2013

mobile payments receive fundingZooZ receives more funding to support mobile payments push

ZooZ, a startup focused on mobile payments, has secured more than $2 million in its Series A funding, which closed this week. The funding is considered a major success for ZooZ, which aims to make mobile payments easier to use for consumers as well as more secure. The money garnered through Series A funding is expected to help ZooZ better establish itself in the competitive mobile commerce market. ZooZ will have to provide a significantly valued service in order to beat out the crowds of other startups that are emerging in the mobile commerce field.

More consumers becoming interested in mobile commerce

Mobile payments are becoming more popular as more consumers begin to rely heavily on their mobile devices. Smartphones and tablets are making it easier for consumers to shop online no matter where they are in the world. As mobile payments become more common, consumers are beginning to demand more comprehensive services that allow them to participate in mobile commerce. Security is also a major issue with consumers, many of whom are concerned for the safety of their financial information while making mobile payments.

Funding to help ZooZ establish more momentum

ZooZ will use the funding it has acquired to add new product functionality to its mobile payments platform. The goal is to increase its appeal to retailers and find new partnerships where the platform can be put to use. ZooZ has ambitions to become the most widely used mobile payments platforms among consumers and merchants. If the startup can develop an easy-to-use and secure system, this may well become a reality.

As ZooZ grows, it may become a competitor with other mobile commerce platforms

ZooZ currently covers much of Europe and Asia and is gaining some momentum in the U.S. The startup is currently competing with a multitude of other mobile commerce startups that are seeking to find success in their own markets. As ZooZ becomes more popular, it will begin to butt heads with larger companies, like Google, that are investing heavily in the mobile payments field.