After BDC released their annual report last month revealing they are now providing advising or funding support to 49,000 entrepreneurs in every part of the country, there’s already news of further investment.
MOBI724 Global Solutions Inc. announced today that they have secured $1 million in financing from BDC to accelerate its fully integrated EMV payment, card link couponing and digital marketing solutions.
“We are excited about starting a commercial relationship with BDC Capital and deeply appreciate the confidence they have shown in our business plan. To be able to count on the investment arm of the Business Development Bank of Canada as a financial partner is a big advantage to our global expansion,” said Marcel Vienneau, CEO.
A Montreal-based fintech company founded in 2008, MOBI724 offers a suite of payment and digital marketing solutions platform that works with any card on any mobile device. Their platform provides customers with full traceability and enriched consumer data, and its solutions enable card associations, retailers, manufacturers, offer providers, mobile operators and card issuers to create, manage, deliver and track incentive campaigns globally to any mobile device.
“With this financing, BDC Capital is supporting the continued growth of an innovative Canadian technology company that has developed a highly scalable product and is already making most of its sales in international markets,” explains Benoît Mignacco, Managing Director, Growth & Transition Capital for Montreal at BDC Capital. “The experience and vision of CEO Marcel Vienneau, the growing demand for fintech solutions, the agreement with Visa signed earlier this year, and the company’s solid growth strategy overall all bode well for the future.”
The company said it will use the proceeds to accelerate its growth, including the addition of sales and marketing resources.
Earlier this year, BDC Capital made available $1.8 billion in fresh funding for investments by Growth & Transition Capital.