Mobile eCommerce Startup picks AIM Stock Market

Following up on fund-raising it has previously secured over the last 18 months mobile e-commerce start-up MoPowered announced last week that it was seeking further investment to the tune of £4 million pounds by seeking admission to the AIM Stock Market.

The London based firm provide mobile commerce services through its SAAS (software-as-a-service) platform and recently raised £1.8 million which was utilised in developing its services further and this latest round of fund raising is destined for investment in Sales Staff and pushing its marketing strategy.

Dominic Keen, CEO of MoPowered, said ‘The number of consumers shopping on the move has already seen exceptional growth which is expected to accelerate as more and more e-commerce goes through mobile channels.’

More Market News

Mart Resources, the Canadian based oil firm who shelved plans in 2005 to list on AIM are revisiting their options and looking to move to the London Stock Market some time in 2014. The company who are currently in the process of switching to Canada’s main market from the junior exchange felt that the company had grown up enough to a size where it thought it would be beneficial to move to the London AIM Market.

The company’s chief executive Wade Cherwayko said “There’s a lot of interest in Africa in the investment community in London and we’re also looking at larger transactions.”

We discussed a few weeks ago in a previous post how Manchester based Kalibrate was looking to raise around £8 million by floating on the AIM Market, the firms placing saw the float raising more than £13 million with their CEO Bob Stein saying that the successful admission to AIM was seen as a ‘Milestone’ event for the business.

The firm also said that it was looking for its placing to accelerate its growth strategy into new countries and through the expansion of sales.