mBlox Closes Funding

mBlox, a mobile transaction network headquartered in Sunnyvale, California and London, UK, has completed a round of funding of undisclosed amount.

Investors include existing backers Norwest Venture Partners, Scale Ventures, Novus, Trident and Avanti and new partner EDBI.

The round, phased over three separate closes, has already enabled mBlox to make a strategic investment in the last quarter of 2010. The remaining funds will be used to enhance its geographic coverage through acquisitions.

Founded in 1999 and led by CEO Andrew Dark, mBlox provides mobile transaction solutions. It manages a global network that operates in more than 180 countries and maintains more than 650 mobile operator connections. mBlox is designed to accelerate mobile payments and enable rich mobile interaction and communication between brands and consumers. It works with a wide range of customers, including financial institutions, transportation firms, media companies, and consumer brands.



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