Despite being a crowded room of players, funding continues to flow towards mobile payment startups. Rooam, which tabs itself the world’s first socially connected mobile payment app just raised $1.2 million in a seed-funding round.
“The idea for Rooam developed because I was frustrated with how long it took me to close my bar tab,” he said. “We are receiving amazing responses from local bars, nightclubs and restaurants in the Washington D.C. area, and are excited that our app will dramatically change the way people pay for drinks and experience nightlife. The seed funding will lay the groundwork for the next city launch.”
Rooam allows cashless mobile payment at participating bars and restaurants, it allows users to see, in real time, where the party is at and it allows users to find friends who are out on the town.
Rooam is currently in limited beta in Washington D.C. but intends to use the funding round to boost sales and marketing.