Obopay eyes $29M in venture funding

Mobile payment service provider Obopay, which last month announced a partnership with Verizon Wireless, said it closed its third round of venture financing to the tune of $29 million. Richmond Global Cellular, an affiliate fund of Richmond Management LLC, led the round; all current investors, including Qualcomm and Redpoint Ventures, also participated, with new investors including financial service providers Citi and Société Générale.

Obopay said the financing is earmarked to reach additional consumers and potential partners. "This round of investment brings Obopay to the enviable position of being the best-funded independent mobile payments company in the U.S. and enables us to enhance our branding and marketing efforts as we launch additional partnerships and continue to augment our service offerings," explained Carol Realini, CEO of Obopay. "Our team has built the most advanced service available, and we are focused on continuing and maximizing our momentum based on robust traction with consumers."

For more on the Obopay financing:
- read this release

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