M-payment: Telefónica Investing in BOKU
- The Californian start-up BOKU announces it has secured 35 million dollars through contributions from investors including New Enterprise Associates (NEA) as well as several previous investors, but also the Spanish telecom operator Telefónica. The latter should soon propose its own m-wallet and, with this partnership, might enjoy BOKU’s merchant network.
- BOKU was founded in 2009 and focuses on providing carrier billing to merchants in both online and offline contexts. Up to now, it has managed to raise 75 million dollars and reach over 60 countries via 260 mobile operators. These funds are set to be used as means to develop its teams and infrastructure as well as to carry on with its expansion project.
- This strategic agreement shows BOKU’s intent to further bet on world-wide expansion and shows that mobile developments are yet to come at Telefónica. The terms should benefit both parties and help them enhance their mutual customer bases. Telefónica is present on 25 markets, representing 300 million customers.
- BOKU and Telefónica (through its subsidiary O2) have already collaborated on the integration of a bill-to-mobile-based model in Germany (March 2011). The new announcement illustrates the interest of the international telecom specialist in BOKU and its model –likely to increase its revenue significantly (thanks to micro-payments for instance).