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Mad Mobile Secures $50MM in Funding from Morgan Stanley Expansion Capital and Bridge Bank

June 14, 2024, 07:55 AM
Filed Under: Technology

Mad Mobile, a pioneering force in restaurant and retail SaaS and payment solutions, closed a $50 million financing agreement. This funding, managed by Morgan Stanley Expansion Capital and Bridge Bank, will be strategically utilized to amplify the expansion of its SaaS and payment technologies, refinance existing debts, and propel sales growth.

Over the past two years, Mad Mobile has made substantial technological investments that have strategically positioned the company for growth. These advancements have enriched the product offerings for restaurants and retailers, significantly enhancing both customer experiences and operational efficiencies.

Bruce Bennett, CEO of Mad Mobile, expressed enthusiasm about the partnership: "We are excited to begin our collaboration with Morgan Stanley Expansion Capital and Bridge Bank as we further broaden our reach into more restaurant and retail markets."

Mad Mobile has seen significant growth, spurred by the increasing need for mobile and flexible retail and restaurant solutions. Offering a complete suite of modern point-of-sale services including mobile POS, mobile ordering, self-checkout, clienteling, mobile fulfillment, and contactless payment. Mad Mobile processes ~$3B in payments, annually. The company is a trusted partner for leading names in mobility and enterprise software, such as Apple, Elo, Amazon, and Salesforce.

Pete Chung, Managing Director at Morgan Stanley Expansion Capital, remarked on the partnership: "We are thrilled to support Mad Mobile's team as they embark on their next phase of expansion and growth."

"We're excited to support Mad Mobile's expansion and their commitment to providing innovative and cutting-edge solutions to the restaurant and retail industry," added Blake Reid, senior director, in Bridge Bank's Technology Banking Group.

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