MasterCard Invests in Mozido’s Global Expansion Plans (Oct. 28, 2014)
MasterCard was one of several investors to lead a round of Series B funding that brought in $185 million for Mozido LLC, a startup that focuses on cloud-based, white-label mobile payments services for banks and merchants. Mozido plans to use the cash infusion toward acquisitions to accelerate the growth of the company’s financial, payments and mobile marketing services globally. With a mobile payments and marketing presence in the Caribbean, Latin America and the U.S., Mozido said it’s ready to use the investment to expand its presence in China, India, Africa, Europe, Latin America and the Middle East through acquisitions.
The round of funding was the first of two intended to raise up to $400 million. In addition to MasterCard, other first-round investors included investment firm Wellington Management; His Royal Highness Sheikh Nahyan of the UAE; and Julian H. Robertson Jr., chairman and CEO at hedge fund Tiger Management. Mozido has raised a total of $265 million in capital over the past 12 months, according to the company.
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