About Magnetto
Magnetto is a Retail company based in London (United Kingdom) founded in 2019. Mobile-based self-checkout solutions are offered for stores and customers. Magnetto has raised $248.44 thousand across 1 funding round. Its focus areas include Autonomous Retail, Physical Stores, Technology Enablers and Self Checkout Solutions. Its legal entity is MAGNETTO INTERNATIONAL LIMITED. Its competitors include MishiPay, Jisp and Ubamarket; 2 of its 3 listed competitors have raised funding.
Company details
Magnetto was founded in 2019 in London, United Kingdom, as a platform in the retail technology sector. Mobile applications are utilized by customers to scan products, add items to a virtual cart, and complete payments through Mastercard, Visa, Apple Pay, or Google Pay. Access to stores is managed via automatic wickets after transactions, facilitating efficient self-service operations for participating retailers.
- Headquarters London, United Kingdom
- SectorsRetail
- Email••••••••
- Website magnetto.store
- Social LinkedIn Facebook
- Legal Name Magnetto International Limited
- Date of Incorporation 30 Apr, 2019
- Jurisdiction LONDON, ENGLAND
- Total Equity Funding$248.44K (USD)
in 1 rounds
- Latest Funding Round$248.44K (USD), Seed
Jul 2021
Funding Insights of Magnetto
Magnetto has successfully raised a total of $248.44K through 1 strategic funding round. The most recent funding activity was a Seed round of $248.44 thousand completed in July 2021. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding $248,443
- Total Rounds 1
- Last Round Seed — $248,443
- First Round $248,443
(Jul 2021)
All 1 funding rounds of Magnetto with amounts and investors; the two latest post-money valuations are shown, the rest are part of the premium plan.
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul 2021 | $248,443 | Seed | – | – | – |
People of Magnetto
2 people are tracked at Magnetto (2 in leadership).
| Name | Role | Group |
|---|---|---|
Denis Yedin 🇺🇦 🇬🇧 | Founder | Director | Leadership |
Roman Starikov | Director | Leadership |
Complete people profiles for Magnetto
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Timeline of Magnetto
2 dated milestones of Magnetto across 2 years, from founding to its latest funding, stage changes and deals.
- Founded Magnetto is founded.
- Funding First funding round of $248K.
Competitors of Magnetto
Magnetto has 3 listed competitors in our database, 2 of them funded. They include MishiPay, Jisp and Ubamarket.
| Company Name | Domain | Founded | HQ Location | Total funding | Employees | Description |
|---|---|---|---|---|---|---|
| mishipay.com | 2015 | London, United Kingdom | $17.19M | 22 | Mobile self-checkout solutions are offered to consumers via app. | |
| jisp.com | 2015 | Alton, United Kingdom | Mobile app providing vouchers, rewards, and discounts for in-store shopping. | |||
| ubamarket.com | 2016 | London, United Kingdom | $7.74M | 5 | Mobile app-based self-checkout is provided for retail industries. |
Detailed competitors of Magnetto
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Related news about Magnetto
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Frequently Asked Questions about Magnetto
Magnetto was founded in 2019 and raised its 1st funding round 2 years after it was founded.
Magnetto is headquartered in London, United Kingdom. It is registered at London, England, United Kingdom.
Magnetto is a funded company, having raised a total of $248.44K across 1 funding round to date. The company's 1st funding round was a Seed of $248.44K, raised on Jul 2021.
Magnetto was founded in 2019 in London, United Kingdom, as a platform in the retail technology sector. Mobile applications are utilized by customers to scan products, add items to a virtual cart, and complete payments through Mastercard, Visa, Apple Pay, or Google Pay. Access to stores is managed via automatic wickets after transactions, facilitating efficient self-service operations for participating retailers.
Magnetto operates through Magnetto International Limited.