Payfone, a New York-based developer of a mobile payments platform that leverages the capabilities of existing inter-operator networks, closed its $11M Series B financing.
New investors Opus Capital and BlackBerry Partners Fund join founding Series A backer RRE Ventures.
In conjunction with the funding, Bob Borchers of Opus Capital and Kevin Talbot of BlackBerry Partners Fund will join Payfone’s Board of Directors.
The service enables online merchants, mobile application stores and brands to extend their reach, conversion and yield all around the globe. The Payfone Merchant Hub currently includes over 300,000 merchants as well as the world’s leading app stores and content brands.
The company plans to use the funds to scale its presence across EMEA, Latin America and Asia.