Mobile ticketing tech firm Masabi has completed a $4m (£2.9m) Series B funding round with m8 Capital, the mobile technology venture capital fund. The funding will be used to support deployments with multiple rail companies in the UK, and for the development of new service features, including NFC technology. The company says it will also help facilitate expansion into new markets, particularly the US, where it is seeing strong interest.

Since securing its Series A funding round in September 2010, Masabi has launched mTicketing services with Cross Country Trains, thetrainline.com, Virgin Trains and Chiltern Railways. The company is also working with additional UK rail brands that are set to go live in the coming months.

Masabi’s apps enable train travellers to buy and display tickets on smartphones and feature phones. The ticket can then be scanned on the phone at the gate or by a train guard.

“We have received overwhelmingly positive feedback from consumers using our mTicketing solutions, proving that mobile phones can revolutionise the way we travel,” says Masabi CEO, Ben Whitaker. “This funding and m8 Capital’s experience will be instrumental in bringing our applications to new markets, making transport mTicketing a truly global phenomenon.”