Mozido, Inc., an Austin, TX-based provider of white-label, mobile payment, shopping and marketing solutions, raised the first $30m of a committed $70m round of financing.
The round, which brought total funding to over $100m, was led by a Boston-based investment advisor with assets under management of over $500bn. In addition to the deal, Ric Duques, formerly Chairman & CEO of First Data Corporation, became Mozido’s Chairman of the Board.
The company intends to use the funds to accelerate growth both organically and through strategic acquisitions.
Founded by Michael Liberty, Mozido provides an integrated platform of cloud-based, white-label, mobile payment, shopping and marketing solutions, complemented by real-time, customer behavior analytics that enable companies in retail, financial services, consumer packaged goods and telecom to serve both banked and unbanked consumers. The platform can work with any wireless carrier or mobile device, including smartphones and feature phones.
The company has operations in the US, Mexico, Central America, the Caribbean, the Middle East, and Southeast Asia, with expansion into India and Africa coming soon.
This announcement broght total funding of Mozido to over $100m with participation from Brentwood Investments, TomorrowVentures, Atlanticus Corporation and Bob Turner personally of Turner Investments.