Chines Payment Company 99Bill Gets Funding

Chinese online and mobile payment company 99Bill has raised an undisclosed first round of venture funding led by Doll Capital Management and Peninsula Capital. 99Bill has made some major strides in enabling content payment, both online (music etc) and through the phone.

99Bill intends to utilize this funding to further develop its technology platform, as well as increase the adoption of its payment platform among partners and Internet users in China. Launched in China in January 2005, the company has about 400,000 registered users, it says.

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