AisleBuyer Grabs $4M

AisleBuyer, a Boston-based developer of apps for mobile checkouts at retail stores, announced today that it has raised a $4 million round of equity- and debt-based funding. The financing comes in the form of a line of credit from Silicon Valley Bank, and an equity investment from InnerWorkings founder Richard Heise, Jr, also the founding investor of Echo Global Logistics, Mediabank, Forseva, and Groupon. The funding will go to new hires in the Boston AisleBuyer office, and expanding the footprint of its iPhone app, which is currently used by Boston-area retailer Magic Beans and enables consumers to scan and purchase store items from their phones to avoid waiting in line.

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