Home funding Mobile Payments Company Bango Raises $10.2 Million

Mobile Payments Company Bango Raises $10.2 Million


Bango, the mobile web payment and analytics company, announced it has secured a £6.5 million investment round (approximately US$10.2 million) to be used to finance further development of its business. Bango is a provider of carrier billing services to Facebook, Telefonica, Amazon, Google, Blackberry, Opera and others. Bango plans to use the cash for development opportunities, particularly to capitalize on the emerging market opportunities and finance further business development in an attempt to attain more mobile network operator partners. Ray Anderson, CEO of Bango said, “Bango has made significant progress through 2012 and into 2013, with a total reach now exceeding 1 billion mobile phone users. We have executed on our plan to support a significant scaling-up in future transaction volumes; making key hires to boost our executive and operational team and investing in our technology platform. We have also seen good development across our key metrics, with analytics transaction volume doubling again during 2012 and end user spend growth resuming towards the end of 2012 and into 2013.” Read more