Payfone has closed its Series B round of financing with Opus Capital and BlackBerry Partners Fund joining the existing investor – RRE Ventures. In total, the company managed to raise $11 million and got two new members of the Board of Directors – Bob Borchers of Opus Capital and Kevin Talbot of BlackBerry Partners Fund.
Payfone, if you don’t know, has developed a mobile payments platform that leverages the capabilities of existing inter-operator networks to enable one-click mobile billing for online and mobile purchases. It’s not the “Premium SMS” but something designed to be more integrated within mobile websites and apps, requiring no text message to be sent. In other words, their solution helps online merchants, mobile app stores and brands to extend their reach, “conversion and yield all around the globe.” End users on their end get a better mobile shopping experience.
The plan is to use the new funds to scale presence across EMEA, Latin America and Asia…
[Via: MocoNews]