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Home > PE News > By Region > North America > United States

Mobile payments company BOKU closes $25m venture funding Mobile payments company BOKU closes $25m venture funding

19 Jan 2010. Source: AltAssets
BOKU Inc, a company that specialises in payments using mobile phones, has raised $25m in series C capital led by DAG Ventures, with continued participation from Benchmark Capital, Index Ventures and Khosla Ventures.

BOKU, which launched in June 2009, has developed mobile payment processing relationships with over 1,000 game and application developers, including apps for virtual goods and currencies purchased on Facebook.  BOKU’s mobile payment service, Paymo, is enabled across 190 carriers worldwide in 58 countries.

Nick Pianim, managing director of DAG Ventures, said, “BOKU is an outstanding investment opportunity, especially considering the widespread use of more than four billion mobile phones worldwide, and their potential as a payment method for online transactions. We looked at companies in this space and invested in BOKU because they are leading the pack with a remarkable team, broad merchant and carrier coverage, and a seamless system for processing transactions via mobile.”

In October, DAG Ventures backed Engine Yard, a player in Ruby on Rails web automation and management technologies, in its series C financing, which raised $19m.

Copyright © 2010 AltAssets

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