Mobile Banking Provider mFoundry Raises $15 Million Third Round; Motorola, PayPal Invest

mFoundry, a San Francisco-based provider of mobile banking solutions, has raised a $15 million third round from Motorola (NYSE: MOT) Ventures, PayPal, NCR, along with existing investors and an unidentified major wireless operator. The company has now raised over $22.3 million; the second round brought in $7.3 million last March from GRP Partners, Ignition Partners and Apax. In addition to its mobile banking platform, dubbed mBank, mFoundry is also involved in p2p and NFC payments through its mPayments offering. This round will go toward broadening reach by expanding relationships with more industry players. Customers and partners include Citi, First Data, Verizon, and several regional banks. Release.

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