Bengaluru: Rooam, a popular socially connected mobile payment app that lets users pay for drinks, explore local events, and find friends at bars, lounges, and clubs, secures $1.2 million in a seed funding round from several private investors. The latest funding will accelerate the full development of its cashless mobile payment app, support product launch initiatives and boost its sales and marketing efforts.
With its seamless, secure and hustle free payment platform, Rooam targets to transform the way users pay, by offering real-time social media tools to discover events and pinpoint the location of friends in the area. As a one-stop mobile payment solution, Rooam’s unique feature allows the users to locate friends in real time and pay the bills via app as well.
Rooam was selected to exhibit at Collision 2016 and will be at stand C 304 in the Sports/Builders/Machine area, where the company will showcase its socially connected mobile payment app and demonstrate the innovation of its technology. The Collision conference has grown to over 7,500 attendees from more than 50 countries and will bring together some of the most promising start-up companies across the globe along with world-class speakers and leading tech investors for a three-day technology conference in New Orleans.
“The idea for Rooam developed because I was frustrated with how long it took me to close my bar tab,” says Junaid Shams, Co-Founder & CEO of Rooam. “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 ground work for the next city launch,” he adds.
Launched in 2015, Rooam is currently running a beta program to select users in the Washington DC area. It also plans to enlarge its network of participating bars and restaurants around that area. The company also plans to launch another app by this year.