The amount was not disclosed. In conjunction with the funding, Core Managing Partner Arjan Schütte, will join Wipit’s Board of Directors.
The company intends to use the capital to expand adoption and development of its mobile payments and financial services offerings.
Led by Richard Kang, CEO, Wipit enables underbanked consumers from around the world to use cash for payments on their mobile phone or with an integrated prepaid card. The company also provides access to alternative financial services such as international money transfer, mobile check deposit, bill payment, and prepaid wireless replenishment – from a mobile phone and payable with cash funds loaded to the user’s mobile wallet account.
Previous investors in Wipit include H&R Block and Euronet Worldwide.