AUSTIN, Texas--(BUSINESS WIRE)--Mozido, a provider of mobile financial, retail and marketing services, today announced a two-part round of Series B funding of up to $400 million. The first $185 million has been funded by MasterCard, Wellington Management, H.R.H. Sheikh Nahyan of UAE, and Julian H. Robertson, Jr., chairman and chief executive officer at Tiger Management. A total of $265 million in capital has been raised by Mozido over the past 12 months, making Mozido the top-funded private mobile payments company.
“Investing and partnering to innovate and accelerate the adoption of mobile payments and services globally is part of MasterCard’s DNA,” said Gary Flood, President, Global Products and Solutions, MasterCard. “Mozido’s strength in building versatile mobile financial and retail solutions that can be used around the globe and across borders makes them a perfect partner for MasterCard’s prepaid card, payment and security services.”
Mozido is using the Series B investment for strategic acquisitions to accelerate the growth of Mozido’s 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—Mozido is poised to use the strategic investment to further expand its global presence through additional acquisitions in China, India, Africa, Europe, Latin America and the Middle East.
“The race for long-term leadership in mobile payments will be won with interoperable services on a global scale,” said Nick Adams, portfolio manager at Wellington Management Company, LLP. “We are proud to be part of the investment Mozido is using to maintain a leadership position.”
His Royal Highness Sheikh Nahyan stated: “UAE is a progressive country that sees the promising future in mobile payments. My investment in Mozido supports my faith in mobile payments as a growth market, and Mozido and its founder Michael Liberty as an emerging winner in this market.”
Mozido provides mobile solutions for merchants, CPGs, financial institutions and government agencies. Mozido’s solutions provide access to services such as bill payments, airtime top-up, person-to-person payments, merchant payments, loyalty programs, direct deposit of government payments, and customized marketing—all from the convenience of a basic SMS-based mobile device or a smartphone.
“I am honored and proud to have such an esteemed group of institutional investors and His Royal Highness, Sheikh Nahyan, supporting Mozido,” said Michael Liberty, founder of Mozido. “Our investors validate Mozido’s vision for financial inclusion on a global scale and our omni-channel mobile services. These tremendous partners will provide invaluable guidance and advice to us on Mozido’s global deployment journey.”
About Mozido
Mozido’s mobile payments platform includes mobile financial services, loyalty programs, and mobile offers for business and retail. Through its white-label, cloud-based platform MoTEAF, Mozido serves people around the world who choose to manage their money using their mobile phone rather than relying on traditional financial institutions. Mozido’s MoTEAF platform is highly interoperable, works with virtually any wireless carrier or mobile device, and integrates easily with products from other vendors. For more information, visit us at www.mozido.com. Follow us on Twitter: @MozidoGlobal
