Mantic Point Solutions gains YFM funding
The mobile phone travel concierge service gains backing for expansion
A company that enables travellers to receive free flight and travel information directly to their mobile phones has gained financial backing from the YFM Group.
Mantic Point Solutions, which operates the free travel information service StreamThru, has received an undisclosed amount of money from YFM’s Yorkshire and Humber Equity Fund.
The Leeds-based business already offers its ‘virtual concierge service’ as a white label product to clients such as easyJet and Monarch Airlines but is now set to expand.
The company says that airline passengers fit into the affluent AB advertising demographic making their users a big prize for marketers.
For users the service is intended to lower stress, keep them updated and reduce the need to carry paperwork for boarding procedures such as check-in.
The funding will assist Mantic Point with its expansion plans to roll out the service to other airlines and partners.
It will also be used to increase the range of free and paid for services offered to passengers and for the company to branch out overseas.
Managing director Mike Atherton said the investment would allow the business to grow and was testament to the company’s success so far.
“We’re delighted to secure this investment from YFM Group,” he said. “It will allow us to build on the success we’ve already achieved with StreamThru and we’re now well positioned to expand the business and deliver on our growth plans.”
© Crimson Business Ltd. 2008