Boku Raises $13 Million To Buy Paymo And Mobillcash; Launches Mobile Payment Service

A new mobile payments company is launching, using venture capital to buy its way into a strong market position. Boku has raised $13 million in two rounds of funding in the last week or so. The first round totaled $3 million and came from Khosla Ventures and Index Ventures and $10 million round came from Benchmark Capital. Ron Hirson, VP of product and marketing, told mocoNews that it will use the money to acquire both Paymo and MobillCash for undisclosed amounts. Boku says this gives it 1.6 billion customers on 193 carriers in 53 countries—Paymo is used on social network Hi5 and had raised $5 million in financing a year ago. Hirson said Boku sees a huge opportunity to be the global standard for making mobile payments for online content, and Hirson said the two acquisitions will “leapfrog us to the front of the pack…The nearest competitor to us has less than half the coverage.” Boku aims to make it easy to use its service—publishers can cut-and-paste some HTML or work with Boku to customize the service…integration teams are available in offices in the US, UK, Asia and Latin America. To Learn More Click Here