BDC Capital invests in payment tracking

The Business Development of Canada has invested in Control Mobile's seed round through its investment arm BDC Capital.

Control Mobile, a Canada-based payment management company, has raised C$1.5m ($1.2m) from a consortium including BDC Capital, the investment arm of the state-owned Business Development Bank of Canada.

BDC Capital was joined in the seed round by Canada-based venture capital firm Vanedge Capital and undisclosed angel investors.

Control Mobile allows its users to monitor and analyse their payments through a dashboard that can be accessed from any internet connected device.

Kathryn Loewen, chief executive and founder of Control Mobile last year, said: “Having seen significant and sustained growth since day one, we are now expanding our product to encompass the multiple, relevant form factors our customers are asking for. Businesses want access to relevant information within specific contexts. Control allows you to keep your finger on the pulse of your business and be in control of the most critical functions, from any location and any device.”

The funding from this round will be used by Control Mobile to expand its customer base.

See more from this Government Report: Canada


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