Zong, a Palo Alto, CA-based mobile payment service used by online gaming and social networking websites, has completed a $15m round of funding.
The round was led by Matrix Partners and, in conjunction wityh the funding, Dana Stalder, general partner of Matrix, will join the company’s board of directors.
Zong will use the capital infusion to further accelerate the growth of its merchant network in US and international markets and to fund the rapid expansion of its mobile carrier network.
Formerly a division of Echovox, the company is today the mobile payment provider for Facebook Credits. In addition, it works with other merchants in a variety of spaces including: popular virtual worlds, online gaming, social networking and digital content properties.
FinSMEs
27/04/2010