CellPoint Mobile, a provider of digital commerce and payment solutions for airlines and travel companies across the globe, has received additional $14 million (a £11 million) in equity financing round for global expansion and product innovation. The round, which was backed by Toscafund Asset Management LLP and managed by Penta Capital, the private equity arm of Toscafund, follows a strong period of expansion for CellPoint Mobile over the past 12 months.
In the past year alone, CellPoint Mobile added numerous new travel brands including Southwest Airlines, GOL, Viva Air, Ethiopian Airlines and Chiltern Railways. Founded in 2007 by co-founder Kristian Gjerding, the Miami, Florida-based CellPoint Mobile helps airlines, ground and sea passenger transportation providers, and hospitality companies thrive in the mobile economy. They position travel and passenger transportation companies to improve existing revenue streams and capture new, lucrative revenues from the mobile-first marketplace, while leveraging leading technologies to reduce fraud and deepen customer satisfaction and loyalty.