Boom Financial Closes $17 Mln Round Led by Digicel

Digicel Limited has led a $17 million Series C round for Boom Financial. Existing investors also participated. Boom provides mobile banking, payments and money transfer service for the U.S. immigrant population and their extended families. Sagent Advisors provided financial advice to Boom.

PRESS RELEASE

On July 18, 2012, Boom Financial (the “Company”, formerly known as m-Via, Inc.) announced the closing of a $17 million Series C equity commitment led by Digicel Limited, with participation from existing investors. The Company will use this investment to expand its product team in the U.S., as well as to increase sales channels and distribution in the U.S., Latin America, and the Caribbean. Sagent Advisors acted as exclusive placement agent and financial advisor to Boom Financial.

Boom Financial has revolutionized how families save, share and spend their wealth on a global scale with its Boom mobile banking, payments and money transfer service for the U.S. immigrant population and their extended families. In 2011 Boom Financial, together with the U.S. State Department, co-founded the International Diaspora Engagement Alliance (IdEA) to engage Diaspora communities in the United States. Founded in 2008 as m-Via, Boom Financial is headquartered in Palo Alto, California, with offices in Los Angeles and Mexico City.

Digicel Limited, a subsidiary of Digicel Group Limited, is a leading emerging markets mobile phone operator providing services in 24 markets throughout the Caribbean and Central America to over 9 million subscribers.