MPortico, an israeli start-up specialised in mobile phone content raises USD 2.3M from MilkCapital
MPORTICO, an Israeli start-up specialized in mobile phone content raises USD 2.3M MILK CAPITAL, a new Venture Capital & Private Equity based in Paris.
MPORTICO specifically develops a new software platform for mobile phones. The software can be integrated on a memory card, a SIM card or downloaded online and makes it possible to directly enjoy specific pre-loaded free contents (applications, music, films, ring-tones…) and to access and directly download new ones.
The intuitive interface has the ability to automatically adapt to any mobile platforms and makes it possible to access new contents in “a single click”, contents that otherwise are laboriously accessible over the Internet by inevitably requiring a credit card payment on-line and having to go through an average of 12 to 14 “clicks” before accessing and purchasing the desired contents.
The amount of the transaction is USD 2,3 millions distributed between an initial payment of USD 1,1 million and a complement of USD 1,2 million in January 2009 depending on predefined success criteria.
According to Nathanael Eisenberg, Managing Director at MILK CAPITAL, “MPORTICO is a unique solution by the innovating distribution approach rich contents are offered to users”.
MPORTICO has already established partnerships with memory cards leading brands and is currently in phase of enlarging its offer with large operators and content providers such as Iplay and Universal.