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.
Subscriber content
?
Subscriber content comes from Gigaom Research, bridging the gap between breaking news and long-tail research. Visit any of our reports to learn more and subscribe.
Advertisement
Advertisement
Advertisement
Comments have been disabled for this post