Telefonica invests in mobile payments firm Boku

Reuters

Telefonica SA, Spain's largest phone company, is investing in Boku to help the mobile payments start-up expand.


Telefonica Digital, the growth arm of Telefonica (Madrid, Spain), is participating in a $35 million funding round for Boku (London) that also includes venture capital firms New Enterprise Associates, Andreessen Horowitz, Benchmark Capital, DAG Ventures, Index Ventures and Khosla Ventures, Boku said on Thursday.


Boku, which started in 2008, has raised $75 million so far and operates in 67 countries through 250 mobile network operators.


"Payments are going mobile and we want to be at the forefront of this trend," said Matthew Key, chairman and chief executive of Telefonica Digital. "In addition to the investment, we are also embarking on a global partnership with Boku to enhance our operator billing capabilities and the overall payment experience through our future mobile wallet services."


(Reporting By Alistair Barr; Editing by Steve Orlofsky)


 

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