Mobile payment technology provider Boku agreed to purchase Fortumo Holdings, an Estonia-based digital payment technology developer backed by chipmaker Intel, yesterday, in a deal sized at up to $41m.
Fortumo has built a carrier billing platform that enables users to pay for products through mobile devices, with the charges carried over to their phone bills.
The company serves some 400 small and medium-sized enterprises in addition to large corporates like Alphabet, Amazon and Tencent. Its carrier billing services will be added to Boku’s own.
Intel’s corporate venturing subsidiary, Intel Capital, joined venture capital firm Greycroft Partners to invest $10m in Fortumo in 2013. It has not revealed details of any other funding.
