Mobile travel services winning more investment this week with UK-based rail ticketing system Masabi securing $4 million from its long term financial backer M8 Capital.
The latest injection of funds follows an initial first round of $2 million provided by M8 in September 2010.
Masabi says the new round will be used to develop the system into the area of Near Field Technology as well as continue its drive into overseas markets, in particular the US where it claims to have seen strong interest from rail suppliers.
Over the course of the past 12 months, since the first round of capital arrived, Masabi has launched its mobile ticketing system for a string of UK rail operators including Virgin Trains, Cross Country Trains, Chiltern Railways and fare seller TheTrainLine.
A number of other operators are due to go live with mobile ticketing technology in the coming months, Masabi says.
The technology works by allowing passengers to not only buy a fare from their handset but also carry a virtual ticket and use station-based hardware and inspectors for scanning.