Deals

Obopay takes $20M for mobile payment software

Want to master the CMO role? Join us for GrowthBeat Summit on June 1-2 in Boston, where we'll discuss how to merge creativity with technology to drive growth. Space is limited and we're limiting attendance to CMOs and top marketing execs. Request your personal invitation here!

Obopay, a Redwood City, Calif. company that gives people a way to send money through their mobile phones or over the web, has taken a $20 million round, according to GigaOm.

While Obopay competes with PayPal, as well as some other, smaller startups, there’s evidence that it may be successful; most compellingly, the company has scored a partnership with Citi, one of the nation’s biggest banks, as well as several cellular providers.

The $20 million round isn’t yet closed, but brings the company’s total to date to $66 million. The investors in the round haven’t yet been disclosed. Previous backers include Onset Ventures, Qualcomm Ventures and Redpoint Ventures.

Update: The company has disclosed the investors in the round. Essar Communications Holdings Limited led the round. Alliance Bernstein, ONSET Ventures, Redpoint Ventures, Richmond Management and Richmond Global Cellular, Citi, Societe Generale, Qualcomm, and Promethean participated. New investors included Essar Communications Holdings Limited and Olayan America Corporation, a global investment office of The Olayan Group.


VentureBeat’s VB Insight team is studying email marketing tools. Chime in here, and we’ll share the results.