Payfone grabs $11 million in Series B financing

Mobile billing solutions provider Payfone announced the completion of an $11 million Series B financing round led by Opus Capital and BlackBerry Partners Fund, with Series A investor RRE Ventures also contributing. The Payfone platform leverages existing inter-operator network infrastructure to deliver payment and billing capabilities connecting carriers with app stores and content providers--Payfone promises one-click online and mobile purchases billed directly to the consumer's postpaid or prepaid account, complete with real-time fraud prevention and detailed billing records. The firm said the new funding will support plans to scale its presence across EMEA, Latin America and Asia.

For more on the Payfone funding:
- read this release