Mobile banking and payments solutions provider ClairMail announced a $13.8 million late stage round of funding to grow its technology infrastructure and service capabilities. The round was led by Investor Growth Capital (IGC), the wholly owned venture capital arm of Stockholm-based Investor AB, and it also saw existing investors (JAFCO Ventures, Northwest Venture Partners and Outlook Ventures) participating.
The financing follows ClairMail’s successive quarters of record revenue growth, including its recently announced 300% year-over-year increase in revenue for the second quarter ending June 2010. The company’s financial institution customers now include 8 of the top 12 North American banks.
At the moment, ClairMail’s mobile banking solution processes millions of transactions per month for its customers across retail banks, credit unions and card service companies. As a result, the financial institutions that use their services can provide consumers with easy access to their accounts via multiple modes, including SMS, mobile web and client application, on virtually any mobile device.