Overview

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Status
Acquired by on June, 2009
Total Equity Funding
$5M in 1 Round
Headquarters:
San Francisco, CA
Description:
Paymo is a payments network allowing consumers to buy and pay through their mobile phone.
Founders:
, , ,
Categories:
Mobile Payments, Mobile, Payments
Website:
http://www.paymo.com

Company Details

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Paymo is a mobile payments network that allows consumers anywhere in the world to buy online and pay with their mobile phone. Paymo is currently available in more than 50 markets around the globe, enabling mobile payments to over 1.5 billion consumers in Europe, North and South America, the Middle East, Africa and Asia.

For merchants — Paymo increases revenues, allowing hundreds of millions of new customers who do not have or do not want to use a credit card to buy products and services online. Paymo handles all the user billing, provides a simple electronic confirmation of the purchase and settles in the merchant's chosen currency. Paymo's conversion rates are up to 10X better than traditional payments.

For consumers — Paymo provides an easy, fast and safe way to pay online. A customer doesn't need a credit card or a bank account, and they don't need to register. Simply by entering a mobile phone number and replying to a text message, a user can make a purchase. The charges are deducted from a pre-paid balance or appear on a monthly cell phone bill.

Funding Rounds (1) - $5M

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DateAmount / RoundValuationLead InvestorInvestors
Aug, 2008$5M / Seed0

Current Team (2)

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Products (1)

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Competitors (2)

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  • DaoTec provides interactive voice response servers and platforms, payment services and voice and SMS telephony services.
  • Rentabiliweb Group is an audience provider that offers secure monetizing solutions, marketing solutions and online advertising networks.

Offices/Locations (2)

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  • Paymo Europe Ltd.

    107 Fleet Street

    London, EC4A 2AB

    GBR

  • Paymo, Inc.

    300 Broadway Street

    Suite 31

    San Francisco, CA 94133

    USA

Past Team (4)

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