Payfone Closes $19M Funding Round

Payfone, a New York, NY-based provider of mobile payments, closed a $19m strategic funding round.
The round was led by American Express, with participation from Verizon Investments Inc. (assisted by Verizon Ventures), and Rogers Ventures. Existing backers Opus Capital, BlackBerry Partners Fund and RRE Ventures, which invested in the company’s Series B round, also joined this financing.
Payfone intends to use the new funds to expand across North America, EMEA, Latin America and Asia.
Founded in 2008 by CEO Rodger Desai, the company offers a checkout and in-app payments service, which allows consumers to purchase digital and physical goods using their mobile phone number and enables operators and merchants to complete transactions more securely, reducing fraud and risk.
Payfone operates offices in Campbell, California and in Stockholm, Sweden.

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