By Tim Maytom
London-based mobile-first payments platform Judo has closed a funding round having earned £6m in investment aimed at driving growth in the rapidly expanding mobile commerce sector.
The funding round was led by financial tech venture capital firm Route 66 Ventures, and the funds raised will be used primarily to increase the resources of the team as Judo aims to expand its existing business and products in Europe before entering new markets later this year.
The funding announcement came as Judo revealed fast-food chain KFC had partnered with the firm to integrate its mobile payment technology into the brand’s restaurants, enabling customers to pay via their mobile phones.
“Judo works with KFC’s existing infrastructure and acquiring bank to provide a cost effective mobile-first payment gateway,” said Chris Matthews, applications development manager at KFC. “KFC’s payment experience simplifies card data entry and speeds up the end-to-end process, significantly reducing the average time to pay. By reducing the friction at the point of payment, KFC expects to enjoy higher transaction completion and increased loyal customer satisfaction.”
“This fresh £6m investment enables us to drive growth in our core European markets and expand our business into new territories,” said Dennis Jones, CEO …read more
Source:: Mobile App News