Mogl Earns $8 Million Investment Ahead of FinovateFall Debut

Mogl_homepage_Aug2015

E-commerce innovator Mogl raised $8 million in new funding. The investment was led by Aequitas Capital Management and featured participation by Avalon Ventures, Correlation Ventures, Monroe Capital, Moore Venture Partners, Sigma Partners, and Sysco Ventures.

Mogl’s total capital now stands at more than $50 million. The company says the additional funding will help Mogl build out its Mogl Network. The network closes the gap between online advertising and offline purchases, providing cash back for dining at selected restaurants.

Quoted in Let’s Talk Payments, Mogl CEO Jon Carder said, “When I show the Mogl Network to experts in the space, they’re excited that there is a solution that is so simple and easy for both merchants and consumers. It finally connects the online world to the offline world.”

Mogl specializes in a field called Online-to-Offline Commerce. Thanks to partnerships with companies like Visa, MasterCard, and American Express, the Mogl Network is able to track a consumer from the moment they see an online ad to the moment they make the offline purchase. The Network works when offline merchants display offers and rewards on websites and apps of those participating in the Network. Consumers see and select the offer, then link their debit or credit card to the website or app, so that when the purchase is made offline, the reward can be credited instantly. Mogl serves 40 million cardholders and has 20,000 merchants in its network

Founded in 2010 and based in San Diego, California, Mogl will make its Finovate debut at FinovateFall 2015 in New York City next month. To see Mogl and more than 70 other fintech innovators live on stage, visit our FinovateFall 2015 page and pick up your ticket today.

Finovate Alumni News

On Finovate.com

  • “Mogl Earns $8 Million Investment Ahead of FinovateFall Debut”
  • “VATBox Locks Up $24 Million Growth Equity Investment”

Around the web

  • edo Interactive launches Blended Activation to give advertisers flexibility in how offers are redeemed.
  • nymi teams up with TD Bank and MasterCard to develop heartbeat-based, biometric authentication for contactless payments.
  • Generations Federal Credit Union hires Insuritas to upgrade its insurance agency offerings.
  • Intrade Magazine interviews Daniel Abrahams, CurrencyTransfer CEO.
  • Top Image Systems reports Q2 revenue growth of 21%.
  • Flint Mobile enhances its iOS app that leverages Apple’s digital wallet ecosystem.
  • Check Point Software Technologies and Wavecrest Computing partner to integrate Wavecrest’s Cyfin reporting tool with Check Point’s Next Generation Threat Prevention solution.
  • Austin Business Journal ranks BancVue’s Kasasa as number 6 in its 2015 Best Places to Work contest.
  • Tradeshift acquires Merchantry, a cloud-based, product-information-management provider for $30 million in cash and stock.

This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.