Mi-Pay’s £1.8m funding

Mi-Pay, a provider of mobile payment services, has received a £1.8 million boost from venture capital trust investor Close Ventures.


Mi-Pay, a provider of mobile payment services, has received a £1.8 million boost from venture capital trust investor Close Ventures.

Mi-Pay, a provider of mobile payment services, has received a £1.8 million boost from venture capital trust investor Close Ventures.

The investment will enable the company to continue its expansion plans in the fast-moving mobile communications market as well as develop other mobile payment services.

Whitehead Mann was introduced to the deal by Close Ventures to carry out management due diligence on Mi-Pay founder Norman Frankel.

Carol House, partner and head of business intelligence at Whitehead Mann, said: “By speaking with former colleagues, we were able to determine how the experience Norman gained, particularly at Logica, has enabled him to establish Mi-Pay to date as well as advise Close Ventures on how best to support him going forward.”

Marc Barber

Marc Barber

Marc was editor of GrowthBusiness from 2006 to 2010. He specialised in writing about entrepreneurs, private equity and venture capital, mid-market M&A, small caps and high-growth businesses.

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