Paymo Secures $5 Million in Seed Financing

Micropayments company Paymo has secured $5 million in seed financing, “provided by prominent angel investors in the United States and Europe”. Paymo connects online merchants with mobile phones, letting payments be made to the phone bill — it touts the ability for online merchants to reach any consumer with a mobile phone in any country. The funding will be used to accelerate product development and marketing (release).

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