|Series A, 6/07 |
BilltoMobile is a company that offers consumers the ability to safely charge online purchases to their mobile phone bill.
The company was originally Danal Co., Ltd., which is a public company listed on the KOSDAQ market in South Korea, which is credited with being the first provider of mobile payments globally. Paul Kim started the US subsidiary in 2006. Then in May 2007, the US business was spun out as BilltoMobile via $9.5 million venture capital funding led by Morgenthaler Ventures, with Paul Kim as the Founder and CEO.
BilltoMobile is different from other mobile payments companies in that it is the first company to successfully sign a major mobile carrier (Verizon, May 2009) in the US with a fee structure to merchants that is significantly below that of premium SMS payments with a financial-grade system. BilltoMobile’s service will be available to consumers in 2010.