MPOWER Mobile, Inc., Austin, Texas-based Mobile payments provider, announced it has received strategic investments from Mike Maples Jr., managing partner of Maples Investments, and Todd Smith, founder of Tivoli.
Maples and Smith join MPOWER Ventures partners Roy Sosa, Bertrand Sosa and Jorge Vergara as investors in MPOWER Mobile.
The proceeds will support the company’s expansion into key markets and continued technology development.
In conjunction with the investment, Smith will support the company by providing strategic guidance on technology development for the company’s suite of mobile payments applications and Maples Jr. will contribute to the development of key markets and strategic partnership opportunities.
Backed by MPOWER Ventures, a socially committed venture fund, MPOWER Mobile is an international mobile payments company dedicated to delivering financial services through the mobile handset – including the ability to send money, accept payments and make purchases – to consumers anywhere in the world.
Commenting on the deal, Bertrand Sosa, Founding Partner of MPOWER Ventures, said: “These contributions of investment, expertise, and time, will fuel MPOWER Mobile’s ability to maintain the pace of innovation required to establish a leadership position in the rapidly evolving mobile payments market”.