Mozido grabs $30 mln, also names Duques as board chairman

Mozido said Thursday that it has received the first $30 million of a committed $70 million round of financing. An unnamed Boston-based investment advisor was the lead investor. Other investors include Brentwood Investments, TomorrowVentures, Atlanticus Corp. and Bob Turner of Turner Investments. Also, Mozido has named Ric Duques as chairman of its board. Based in Austin, Texas, Mozido is a provider of cloud-based, mobile payment, shopping and marketing solutions.

PRESS RELEASE

Austin, TX (PRWEB) December 05, 2013
Mozido, Inc. announced today that it has received the first $30 million of a committed $70 million round of financing led by a Boston-based investment advisor with assets under management of over $500 billion. This funding will allow Mozido to accelerate its growth both organically and through strategic acquisitions. 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.
In addition, Ric Duques, formerly Chairman & CEO of First Data Corporation until he led its acquisition by Kohlberg Kravis Roberts in 2007 for $29 billion, becomes Mozido’s Chairman of the Board. Said Duques, “This institutional investment is a significant milestone in Mozido’s growth. It validates the business model that visionary founder Michael Liberty has created and will accelerate the global success of Mozido’s mobile payment services.”
Founded by Michael Liberty, Mozido has grown into a global mobile payments company with operations in the US, Mexico, Central America, the Caribbean, the Middle East, and Southeast Asia, with expansion into India and Africa coming soon. Said Liberty, “It’s humbling to have someone with such a sterling reputation as Ric Duques become Chairman of the Board. My vision for Mozido is financial inclusion by delivering disruptively priced financial, payment, and marketing services through the convenience of mobile phones to bring the financially disenfranchised people of the world into an ecosystem of hope, opportunity and financial fairness. I have always believed it is possible to do well and do good at the same time.”
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. For more information, visit us at http://www.mozido.com.

Related Posts

Leave a Reply

PEHUB Community

Join the 12501 members of peHUB to make connections, share your opinion, and follow your favorite authors.

Join the Community

Look Who’s Tweeting

Psst! Got any hot tips?

  • This field is for validation purposes and should be left unchanged.

PE HUB News Briefs

RSS Feed Widget

Marketplace

VCJ Headlines (subscribers only)

RSS Feed Widget

Buyouts Headlines (subscribers only)

RSS Feed Widget

Reuters VC and PE feed

RSS Feed Widget