18 December 2017
visit www.ebaday.com

M-payments start-up Boku bags new investment

28 May 2010  |  9213 views  |  0 smartphone

US mobile payments start-up Boku has raised an undisclosed investment from Andreeson Horowitz, the firm founded by Netscape co-founders Marc Andreesen and Ben Horowitz, who will become strategic advisors to the company.

Boku, which launched in June last year, has previously raised £38 million, including $25 million in a funding round in January led by DAG Ventures.

Since launch, the company has developed mobile payment processing relationships with leading game and application developers, including nearly 100% of the top applications for virtual goods and currencies purchased on Facebook. Boku's mobile payment service, Paymo, is enabled across over 200 carriers worldwide in more than 60 countries.

Separately, the company has hired two seasoned veterans of the mobile industry, David Yoo, former SVP and chief product officer at AT&T Interactive, and Kevin Grant, former VP of sales for MobiTV and SBC's as SVP of strategy and SVP of sales, respectively. The two new execs will be charged with working with mobile carriers to create new partnerships and bring down fees to capitalise on opportunities in the growing mobile payments space.

Says Yoo: "Mobile payments for goods and services, be they virtual, digital or physical are still in the early stages of growth. Carriers have a tremendous opportunity to generate revenue and increase Arpu as fees come down."
KeywordsFINDEX

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

US faces long wait for mobile payments at PoS - Boston Fed

US faces long wait for mobile payments at PoS - Boston Fed

26 May 2010  |  7785 views  |  1 comments
Google Ventures invests in m-payments start-up Corduro

Google Ventures invests in m-payments start-up Corduro

04 May 2010  |  10615 views  |  0 comments
M-payments firm Zong secures $15m funding

M-payments firm Zong secures $15m funding

27 April 2010  |  7964 views  |  0 comments
M-payments start-up Boku raises $25m

M-payments start-up Boku raises $25m

19 January 2010  |  6298 views  |  0 comments
Bling Nation rings up $8 million in funding

Bling Nation rings up $8 million in funding

02 July 2009  |  3668 views  |  0 comments
Jump in mobile payments users this year - Gartner

Jump in mobile payments users this year - Gartner

28 May 2009  |  9331 views  |  0 comments
Social network hi5 teams with Paymo to accept mobile payments

Social network hi5 teams with Paymo to accept mobile payments

10 March 2009  |  7018 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.atos.netvisit www.response.ncr.comvisit www.niceactimize.com

Top topics

Most viewed Most shared
satelliteRipple completes XRP Lockup
11239 views comments | 3 tweets | 3 linkedin
Banks tap Ethereum smart contracts for MiFID II complianceBanks tap Ethereum smart contracts for MiF...
10155 views comments | 21 tweets | 23 linkedin
Banks and fintech startups join forces on blockchain-based supply chain pilotBanks and fintech startups join forces on...
7768 views comments | 19 tweets | 22 linkedin
Digital banking startup Loot secures £2.2 million seed roundDigital banking startup Loot secures £...
7426 views comments | 5 tweets | 11 linkedin
Nordea takes Open APIs into live productionNordea takes Open APIs into live productio...
7395 views comments | 6 tweets | 26 linkedin

Featured job

Competitive base, commission, benefits
London, UK

Find your next job