| Website | obopay.com |
| Category | Web |
| Employees |
| Total | $66M |
| Series A, 2/06 Onset Ventures Redpoint Ventures Richmond Capital | $10M |
| Series B, 9/06 Qualcomm | $7M |
| Series C, 7/07 AllianceBernstein Citigroup Qualcomm Redpoint Ventures Richmond Capital Societe Generale | $29M |
| Series D, 4/08 Essar Communications Holdings AllianceBernstein Onset Ventures Redpoint Ventures Olayan Richmond Managment Citigroup Societe Generale Qualcomm Ventures Promethean | $20M |
If you are trying to split a lunch bill but can’t find the right amount of cash, OboPay can help. Obopay is a mobile payment solution company that lets anyone exchange money through their mobile phone. It allows its users to spend money, get it or send it directly from their phone using a PrePaid Mastercard. The use of a MasterCard is necessary at the moment because no merchants accept OboPay. Additionally, having money stored in an external account instead of on a phone deters mobile phone theft. OboPay doesn’t turn your phone into a wallet, it turns it into a credit/debit card with a required PIN number for access.OboPay’s market consists of the 200 million American cell phone users and the 24 million MasterCard acceptance locations around the US. With a large enough market, OboPay hopes to do for America what is already the norm in places like Japan: Phone/Wallet functionality.
Having acquired money management startup BillMonk, Obopay will offer not only a way to exchange cash, but a way to organize and distribute bills. This combination sets it up with a nice full functioning platform ready for the mobile spender who thinks the wallet is obsolete.
| Website | obopay.com |
| Stage | Live |
| Launch Date | July 31, 2007 |
| Tags | money-management |
