Redwood City, Calif. - Obopay, a provider of mobile payments technology, has raised $20 million in its fourth round of funding, GigaOM reported.

While investors were not named, CEO Carol Realini told GigaOM that she and other executives contributed to the round via their Obopay mobile accounts.

Founded in 2005, Redwood City, Calif.-based Obopay allows users to transfer money between their bank accounts and mobile payment accounts, enabling them to complete transactions using their mobile phones.

The company competes in the space with PayPal's mobile service, as well as KushCash and TextPayMe.com.

Obopay has previously raised a total of $48 million.

Related Links:
http://gigaom.com/2008/04/17/obopay-gets-20m-to-send-money-via-mobiles/

http://www.obopay.com