Enabling Technologies

Mozido, a Texas based mobile payments firm raises $30 M for expansion

Austin based mobile payments company Mozido raised $30 Million recently. The company was started in 2008 in Texas itself but at that time in Dallas. It later on shifted its base to Austin. Mozido develops cloud-based mobile payment systems and marketing software. Earlier this year in January, Mozido had acquired a small yet interesting start up called Pagovision, whose network of more than 1,500 retailers serves underbanked and unbanked consumers. This $30 Million funding will allow Mozido to accelerate its growth both organically and through strategic acquisitions.

The payments space is buzzing with startups as well as incumbents innovating at a rapid pace. This is yet another investment being made in the payments sector. More than 3,500 million dollars investments have been made in payment firms by VCs & Strategic Investors. Accel Partners funded Circle, Card Spring, Gumroad, Clinkle, and Lenddo. Kleiner Perkins Caufield invested in Square and Shopkick. And Sequoia Capital in Stripe, Square, Citrus Pay and Prizm Payment. Even Andreessen Horowitz is enthusiastic about the sector with investments in Jumio and Belly.

Mozido has described in the SEC filing that it is raising a total of $70 million, so remaining $40 M would be added soon. There are 5 investors in all. The current round of investment is led by a Boston-based investment advisor with assets under management of over $500 billion. The announcement brings total funding of the company to over $100 million with participation from Brentwood Investments, TomorrowVentures, Atlanticus Corporation and Bob Turner personally of Turner Investments.

Michael Liberty is the Founder and Chairman of Global Strategic Partnerships, Mozido Inc. Mr. Liberty has had a distinguished career with 30 years of success in a wide variety of industries that include real estate, manufacturing, retail merchandising, telecommunications, and hospitality. In 1985, Mr. Liberty was nominated by President Ronald Reagan as one of the Outstanding Young Men of America. Here is a video that talks about Mozido offerings:

Adolfo Salume a Harvard MBA and Chairman and CEO for more than 20 operating companies under Grupo Prologix is collaborating with Mozido to launch in South America. The growth expansion of Mozido in Southam will start from El Salvador with the help of Salume. “Adolfo Salume’s vision to connect mobile services for retailers, CPGs, and banks is the perfect expression of the mobile EcoSystem that we have built Mozido to deliver,” said Mike Love, President and Chief Operating Officer of Mozido. “Together our mobile EcoSystem will provide more convenient and lower cost services to the people in El Salvador.”

About Mozido

Mozido provides an integrated platform of cloud-based, white-label, mobile payment, shopping and marketing solutions, complemented by real-time, customer behavior analytics. Mozido enables companies in retail, financial services, consumer packaged goods and telecom to serve both banked and unbanked consumers, and mobilize a better future for all people. Our platform is highly interoperable and can work with virtually any wireless carrier or mobile device, including smartphones and feature phones.

Chiraag Patel

Chiraag Patel is a Senior Reporting Analyst and the Editor of Bitcoin and Virtual Currency channels at Lets Talk Payments. He is an engineer with deep interest in MMORPG, Virtual Banking, Game Currency and Virtual Cash. Chiraag enjoys Reading& Blogging with focus on New Innovation, Technology & Startups in the Payments Space.

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