Switzerland-based MUUME Group has raised around $6.2m in its Series B funding round.
The post-money valuation of the company is around CHF 40m ($41m).
Backers to the round were undisclosed, but they included a Swiss venture capital firm and several Swiss entrepreneurs.
MUUME allows users to make payments via their phone, making purchases and orders from the device. Through the platform, users can also get access to loyalty and coupon programs.
The platform offers a digital self-service, where a customer scans the barcode of an item to receive information about the product. Other offerings include pre-ordering products, digital shop, mobile payments, digital wallet, digital KYC and consulting services.
This capital will be used to boost the company presence in Germany and Switzerland, as well as driving growth in neighbouring countries.
MUUME CEO & co-founder Marco Samek said, “The funds are used to further expand our position in the core markets of Germany and Switzerland and to open up further markets. In addition, we will strengthen our team with further talents. The market is only at the beginning of a large digitization wave, which will change a lot.”
Following this investment, the company has raised a total of around $8m, with the company nabbing around CHF 2m last year from Heliad Equity Partners.
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