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Sunday, December 5, 2021

Helsinki-based Mobal secures €2M seed funding round

Finnish startup Mobal has announced a €2 million seed funding round from Lifeline Ventures, whose previous investments include Wolt, Supercell, Smartly, and Aiven, to mention a few. The Helsinki-based startup focuses on providing  the best services and software solutions to help businesses ensure that their online presence is as  accurate, up-to-date, and as effective as possible.

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Over 60% of consumers say incorrect information in a business listing would stop them from  choosing that particular business. Business listings are replacing websites, and typically, it is the  last thing a business owner will spend time optimizing, as they have so many portals and  mediums to keep track of nowadays. But current consumer trends all point toward it being more  important and relied upon than ever. 

Viewing the Google Business profile represents the single most significant amount of time the  business has visibility to consumers. It is when they are at their most receptive to conversion. This is because the consumer has actively sought that company or industry type out. So how do  businesses optimize this location-specific digital storefront best? 

As of early 2020, the answer has been Mobal. Their concept, business plan, and execution have  earned them the interest of Lifeline Ventures. The €2 million injection from the Finland-based prominent venture capital fund  will help further accelerate the growth of the business. 

Founders Jakob Wikström and Alexander Silén recognized that many businesses were missing  out on this opportunity and founded Mobal to cater to this need with globally leading location  marketing services and software solutions. The service and solutions they provided were targeted  specifically to ensure that their customers’ businesses rank high in a Google search, have  outstanding reviews, exceptional content, and accurate information regarding opening hours and  contact information. This all results in an increase in conversions and sales, driving the growth  and development of their customers. 

“We all use Google businesses on our phones daily, to find opening hours, reviews, directions, and  more. As a channel for reaching consumers, it can no longer be ignored or left behind. That is why  we exist.”  Jakob Wikström, CEO & Co-founder 

Potential customers and Mobal employees have taken notice, as this milestone represents the  beginning of large-scale development, not only to serve their clients better but also to increase  the Mobal workforce exponentially. ” We have from the beginning built our processes to support our growth and are excited to put this  investment directly into the business development and growth.” adds Wikström.

Running a business is tough these days, with so many channels to manage and the actual  company itself. In reality, consumers are always looking for a great experience throughout their  entire customer journey.

“We saw the need to develop our retail-stores digital presence. By taking care of our online  presence on Google, the number of calls to our stores has increased, so we see that the  development and constant updating of all of our locations across the country have been effective.”  Lotta Taipale – Retail Marketing Coordinator at Reima   

Mobal is focused on taking care of location-based marketing so that their clients can focus on  their business. This results in a seamless, unique customer journey that naturally inspires  consumers to leave positive reviews, organically and exponentially improving the business’s  online health. 

“We invested in Mobal because we believe in the founders vision of providing a service to bridge  the gap that brick and mortar stores face when managing their location marketing presence.  Jakob, Alexander and the core team also convinced us with their energy and customer-centric  drive for success. We are looking forward to the exciting work of helping them build Mobal into the  number one tool that physical stores use for driving inbound traffic to their locations.” Kai Backman, Partner at Lifeline Ventures 

Around 90% of the whole world population only look at the first-page results on the search  engine. With Mobal, companies of all sizes, from local cafes to enterprises, can increase their  discoverability, drive better engagement, and strengthen their brand reputation online.

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