Fintech and mobile startup CellPoint Mobile receives $14 million investment for global expansion and product innovation

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.

CellPoint Mobile helps its clients sell to, interact with and communicate with travelers via the digital devices that rarely leave their sides as they travel. The company started by successfully launching a mobile solution for Danish Rail and then expanded rapidly into the airline market, with Emirates as its first airline client. The company now has 130 employees located across 7 offices and serves over 30 clients globally.

“We are very excited to finance CellPoint Mobile’s next phase of expansion,” commented Steven Scott, Partner at Penta Capital. “CellPoint Mobile is solving the most critical problem that travel companies face today: the optimization of their entire path to purchase across all their digital channels. We see a unique growth opportunity and look forward to working together with the company’s experienced management team to support this new phase of development.”

CellPoint Mobile offers an integrated digital platform that enables travel merchants to optimize the full customer sales cycle (Promotion, Sell, Pay and Serve), increase sales conversions and offer a seamless customer experience across all digital channels. Travel merchants can also implement CellPoint Mobile’s unique payment platform to control and optimize their payment strategy. The payment platform provides access to a proprietary payment eco-system and enables fast implementation of alternative payment methods, global or local card schemes, and multiple acquirers.

“We continue to experience a very strong demand from travel companies that want to optimize their digital payment and commerce solutions, to counter the tremendous challenges they face with their existing providers to deliver quickly and cost-efficiently,” said Kristian Gjerding, CEO and co-founder of CellPoint Mobile. “The new investment will enable us to further scale our team globally as well as drive additional innovation into our unique platform, especially in the area of intelligent analytics.”