m8 Capital invests in Masabi

The investment will be used to support deployments with multiple rail companies in the UK as well as for the development of new service features, including near field communication (NFC) technology. It will also help facilitate expansion into new markets, particularly the US.

Company
Masabi's applications turn mobile phones into ticket machines which allow people to purchase and display public transport tickets on most handsets. Once people have brought a ticket, their phone can be scanned at the gate or by a train guard.

Since securing a series-A funding round in September 2010, Masabi has launched mobile ticketing services including Cross Country Trains, thetrainline.com, Virgin Trains and Chiltern Railways. The company is currently working with additional UK rail brands that are set to go live in the coming months.

The London-based company was established in 2001 and employs 30 people.

People
Ben Whitaker is CEO of Masabi.

Advisers
Company - Gibson Dunn (Legal).

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• Topics
• Expansion
• Technology
• UK / Ireland
• United Kingdom