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Mobile Ticketing Solution Masabi Raises $2.8M To Help Transit Agencies Move To The Cloud, Opens New York Office

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http://techcrunch.com – Masabi, which develops and deploys mobile ticketing technology for the transport sector, has raised a further $2.8 million in a new round of funding from Detroit-based Fontinalis Partners, along with London-based MMC Ventures and existing investor m8 Capital. The new capital will be used by the UK company to “accelerate” transit agency deployments in the U.S. — in late 2012 it deployed its “JustRide” system for Boston’s MBTA — as well as opening a New York office. Related to its U.S. expansion, Masabi has hired transit industry “innovator” (IT news)