Tampa digital payments firm picks up $50M investment

Tampa-based restaurant and retail digital payments firm Mad Mobile has picked up $50 million in financing from Morgan Stanley Expansion Capital and Bridge Bank. 

The funds, according to a statement, will be used to “amplify the expansion” of its Software as a Service and payment technologies, refinance existing debts, and propel sales growth. The funding announcement comes some 18 months after the company announced $20 million in funding from Eastman Capital Partners. 

"We are excited to begin our collaboration with Morgan Stanley Expansion Capital and Bridge Bank as we further broaden our reach into more restaurant and retail markets,” Mad Mobile CEO Bruce Bennett says in the release.