Finances to open new San Francisco office and increase engineering team.
Facebook co-founder Eduardo Saverin led the $7 million series A finance round for m-commerce solutions firm ShopSavvy as he joins the board of directors.
The ShopSavvy app works by inviting consumers to scan QR codes when in-store to receive price comparisons and information from local and online retailers.
It claims more than 20 million app downloads, 10 million current unique users and partnerships with over 40,000 retailers including Walmart and Sears. Corporate customers include Microsoft, Nokia, Visa and more.
In February we reported ShopSavvy's partnership with location-based deals site Groupon to deliver a personalised experience to users.
Eduardo Saverin, ShopSavvy director, said: "Much like the nascent days of social media, I believe the mobile shopping services market is in the very early stages of change.
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"In my opinion, ShopSavvy has the right connections, the right partners and the right technology to be a game-changer."
ShopSavvy will use the capital to purchase a new San Francisco office and expand its engineering team.
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