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Mobile Payments Firm Obopay Raises $7 Million

Authored by Mark Hefflinger on September 5, 2006 - 5:18pm.
Redwood City, Calif. - Obopay, a developer of a mobile payments service, said on Tuesday that it has secured $7 million in a new investment round led by wireless giant Qualcomm. Other participants included Redpoint Ventures, ONSET Ventures and Richmond Management, all previous investors in the company. Redwood City, Calif.-based Obopay said that it will use the proceeds to expand its marketing and operations in the U.S. The company's service allows consumers to instantly get, send and spend money using their mobile handsets.

http://biz.yahoo.com/prnews/060905/sftu048.html?.v=65 
http://www.obopay.com
tags: Deals | Mobile | VC | Payments | Qualcomm | Commerce | Mobile Commerce | Obopay | Investments |

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