Looking to boost resources to meet an expected spike in demand for mobile financial services, ClairMail Inc. has received $13.9 million in funding.
ClairMail, of San Rafael, Calif., plans to use the financing to expand its technology infrastructure to meet growing demand for mobile financial services. The funding round was led by Investor Growth Capital, a Stockholm venture capital company that specializes in growth-stage tech firms. ClairMail's existing investors JAFCO Ventures, Northwest Venture Partners and Outlook Ventures also participated. Philip Dur, a managing director at IGC, said in a press release Monday that mobile is a strategic "channel of the future" and that ClairMail has demonstrated rapid growth in North America and an expanding are of operations in international markets. According to comScore, 13.2 million people assessed their bank accounts from phones in April 2010, up 70% from a year earlier.