Mobile self-checkout provider AisleBuyer is announcing a funding round of $4 million today. Boston Mass based AisleBuyer was founded in 2009 and provides the first smartphone driven self checkout solution that aims to improve in-store shopping experience by eliminating the need to wait in line.

The app allows shoppers to scan items, review pricing, access reviews and checkout using just their smartphone. It is only available in Boston area Magic Beans but they are planning on announcing more retail partnerships soon.

The $4 million in funding is said to be comprised of equity and debt. “The equity came from the founding investor of InnerWorkings, Echo Global Logistics, Mediabank, Forseva and Groupon, with an additional line of credit from Silicon Valley Bank.”

This is an interesting description of the backers, explained above as the “founding investors” of six companies.  No venture funds are listed in the round or any indication of the contribution levels of the different parties. The funding also included debt financing, which was a surprise for what we believe is their first round of outside capital.

Debt financing is essentially one big loan, and taking on debt would appear to be a move to avoid dilution, but will obviously have to be paid back to SVB. In order to secure debt financing the company must either have revenues or a contract from existing investors stating that if the company cannot pay back the loan, they will.

We are looking forward to watching AisleBuyer grow in the future, as the money appears to be growing their Boston staff. We have reached out to AisleBuyer but are still awaiting a response on the funding announcement.