Boku raises $25 million in series C funding
BOKU, Inc., a leader in mobile payments, announced today that it has raised $25 million in series C capital led by DAG Ventures, Inc. with continued participation from Benchmark Capital, Index Ventures and Khosla Ventures. This round of capital builds on the strong success and momentum BOKU has experienced in the last year and stands as a strong vote of confidence for the company’s future.
“This has been an extremely successful year for BOKU, and this new round of funding signals an even stronger future.” Said Mark Britto, CEO of BOKU, Inc. “Just last month we announced 12 new partnerships with some of the top online game developers in the world, all of whom recognized the value BOKU adds to their businesses and customers, and all have seen increased revenue since partnering with BOKU. Every day we are growing and adding new partners, and with the continued support of our investors, we will continue to establish BOKU as the standard in mobile payments.”
“BOKU is an outstanding investment opportunity, especially considering the widespread use of more than 4 billion mobile phones worldwide, and their potential as a payment method for online transactions,” said Nick Pianim, Managing Director, DAG Ventures. “We looked at companies in this space and invested in BOKU because they are leading the pack with a remarkable team, broad merchant and carrier coverage, and a seamless system for processing transactions via mobile.”
BOKU, which launched in June 2009, has seen tremendous growth in the last year. Over this brief time period the company has developed mobile payment processing relationships with over 1,000 game and application developers, including almost all of the top applications for virtual goods and currencies purchased on Facebook. BOKU’s mobile payment service, Paymo, is enabled across 190 carriers worldwide in 58 countries, and reaches a potential 1.8 billion customers.
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