Mobile payment specialist Boku scores $35 million in funding
O2 owner Telefonica one of the backers
Operating billing firm Boku has secured $35 million in funding, it's been revealed, with fresh investors including New Enterprise Associates and the growth arm of O2's parent company Telefonica.
The latest cash injection means Boku, which launched a carrier billing platform for in-app purchases on Google's OS back in June, has raised a total of $75 million since the company was formed in 2008.
Confidence cash"Payments is an industry that requires scale, and in the three years since Boku launched we've grown rapidly to partner with more than 250 mobile network operators, processing transactions in 67 countries around the world," said CEO Mark Britto.
"We see this investment as a clear vote of confidence from our new partners at NEA and Telefonica.
"They recognise that we've established a mobile billing system that offers bank grade technology on a global scale; this strategic investment will help us expand our business as well as facilitate the growth of our new Boku Accounts platform."
Indeed, aside from the investment, Telefonica Digital chairman and CEO Matthew Key claims his company is partnering with Boku to "enhance our operator billing capabilities and the overall payment experience through our future mobile wallet services."
The money itself, Boku claims, will be used to continue its policy of expansion set in motion in 2009.
Boku already claims to operate in a total of 67 countries around the globe, having formed partnerships with more than 250 mobile operators in total.
[source: BusinessWire]
