M-payments start-up Boku raises $25m
19 January 2010 | 6264 views | 0
San Francisco-based online mobile payments start-up Boku has raised $25 million in a series c financing round led by Dag Ventures and joined by existing investors Benchmark Capital, Index Ventures and Khosla Ventures.
The Boku payments service lets consumers make online purchases of digital and virtual goods with their mobile phones. Users enter their phone number with payments charged to the monthly phone bill, requiring no registration or bank accounts.
The investment comes just six months after the start-up officially launched on the back of a $13 million funding round and the acquisition of rivals Paymo and Mobillcash.
The firm says it has already developed mobile payment processing relationships with over 1000 game and application developers, including almost all of the top apps for virtual goods and currencies purchased on facebook. Meanwhile its payment service, Paymo, is enabled across 190 carriers in 58 countries, reaching a potential 1.8 billion customers.
Mark Britto, CEO, Boku, says: "Every day we are growing and adding new partners, and with the continued support of our investors, we will continue to establish Boku as the standard in mobile payments."