San Diego-based Fragmob said that it secured a line of credit with Santa Barbara-based Agility Capital and a banking relationship with Silicon Valley Bank.
The producer of software for mobile devices made the announcement Jan. 19.
People in the direct sales industry use Fragmob software. Customers are involved in multi-level marketing and party planning businesses such as ItWorks, OmniLife, OrganoGold, Purium, TraciLynn and ViSalus. The business says it has users in 30 countries.
Fragmob co-founder and CFO Jonathan Shapiro expressed hope that the financial steps will position the company for a multimillion-dollar equity fund-raising effort in the summer.
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Agility Capital has also supported San Diego election software maker Everyone Counts.
