Irish mobile payments outfit Network365 has closed $12 million in a third round of private equity funding.
The new lead investor is London-based Advent Venture Partners which joins Amadeus Capital Partners, Trinity Venture Capital, Jafco and Enterprise Ireland. James McNaught-Davis, a general partner of Advent Venture Partners and former Misys M&A stalwart, will join the board of the four year-old m-commerce venture.
The new investment follows a recent announcement by NTT DoCoMo that it has chosen Network365 to provide mobile payment and banking services to subscribers in Japan.
Network365 CEO, Raomal Perera, says the cash will be used to consolidate the company's position in Asia Pacific, Europe and Latin America while investing in the emerging US market.