The amount of the transaction was not disclosed. Following it, Qubecell’s employees will be joining the Boku organization with Founder & CEO Ranjan R. Reddy, joining as part of the leadership team in Asia.
The acquisition provides Boku with direct carrier billing connections with four of the largest carrier networks in India along with a number of key local merchant relationships. It also makes the company the largest provider of direct carrier billing in the country and expands its presence in Asia and the Middle East.
Led by CEO Mark Britto and Chief Business Officer Jon Prideaux, Boku provides a bank-grade mobile payments technology for consumers, merchants and carriers. The company also has offices in Europe, Latin America, and Asia and reaches nearly 4 billion consumers worldwide, across 70 different countries with more than 270 operators.
It is backed by Andreessen Horowitz, Benchmark Capital, DAG Ventures, Index Ventures, Khosla Ventures, and NEA.