Mobile Payments Platform Mozido Lands $185M Series B
October 24, 2014
Mozido, a VC-backed provider of mobile financial, retail and marketing services, has announced a two-part round of Series B funding of up to $400 million. The first $185 million has been funded by MasterCard and Wellington Management, among others. With mobile payment and marketing implementations in the Caribbean, Latin America and the U.S., Mozido will use the investment to further expand its global presence through additional acquisitions in China, India, Africa, Europe, Latin America and the Middle East.
Mozido offers mobile solutions to merchants, CPGs, financial institutions and government agencies, providing access to services such as bill payments, person-to-person payments, merchant payments, loyalty programs, direct deposit of government payments and customized marketing—all from the convenience of an SMS-based mobile device or a smartphone. The company's previous funding activity includes a $30 million investment from TomorrowVentures, Brentwood Investments and Atlanticus in December 2013.