Chinese Mobile Payment Firm SmartPay Receives Investment

SmartPay Jieyin, a provider of mobile payment services in China, announced the completion of a strategic round of equity financing with RRE Ventures. Additionally, current SmartPay shareholders, including Accel Partners, Icon Ventures Asia, Lunar Group and others, have also invested additional capital in the company.
Pacific Epoch: Smartpay offers services that allow users to, among other things, recharge mobile phone accounts, pay utility bills and pay for delivered goods. The company was founded in 2003 as a sister company to wireless value added service provider Linktone (Nasdaq: LTON).

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