Mozido Raises $185M in Series B Funding

MozidoMozido, an Austin Texas-based provider of mobile financial, retail and marketing services, raised $185m in the first part of a Series B funding of up to $400m.

Backers included MasterCard, Wellington Management, H.R.H. Sheikh Nahyan of UAE, and Julian H. Robertson, Jr., chairman and chief executive officer at Tiger Management.

The company, which has now raised a total of $265m over the past 12 months, intends to use the funds for strategic acquisitions to accelerate the growth of its ecosystems of financial, payment, and marketing mobile services around the world. With nationwide mobile payment and marketing implementations in the Caribbean, Latin America, and the United States, it aims to expand its global presence through additional acquisitions in China, India, Africa, Europe, Latin America and the Middle East.

Led by Michael Liberty, founder, Mozido provides merchants, CPGs, financial institutions and government agencies with MoTEAF, a cloud-based platform to manage mobile solutions such as bill payments, airtime top-up, person-to-person payments, merchant payments, loyalty programs, direct deposit of government payments, and customized marketing — all via a basic SMS-based mobile device or a smartphone.
MoTEAF works with any wireless carrier or mobile device, and integrates with products from other vendors.



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