Mobile Payment Service Obopay Raises $20 Million; Total At $68 Million

Mobile payment company Obopay has raised $20 million in its fourth round of funding, reports GigaOM. The round isn’t finished and the final amount may go higher — so far the only investor details given are “CEO Carol Realini … and other Obopay executives contributed to the round by wiring their investments to the company coffers by way of their Obopay accounts on their mobile phones.” Obopay has previously raised $48 million. That’s a lot of dosh, but Obopay wants to become the Western Union/PayPal of the mobile world, and in order to do that it had to get 41 licenses to become a registered money transfer agent just in the US — and it wants to expand internationally to grab a slice of the money sent between countries. It’s currently in the US and India, and lets people send money even if the recipient doesn’t have Obopay.

Comments have been disabled for this post