US-based mobile financial services provider Mozido has raised $185m of a planned $400m series B round from investors including payment services company MasterCard.
The round also featured investment management company Wellington Management, Sheikh Nahyan of UAE and fund manager Tiger Global Management. Mozido said it has now raised a total of $265m over the past year.
Mozido provides merchants, financial institutions and government agencies with mobile financial, retail and marketing services.
The capital will be used to fuel strategic acquisitions that can accelerate the company’s growth worldwide. Mozido is currently lining up strategic investments in India, China, Europe, Latin America, India and the Middle East.
Michael Liberty, founder of Mozido, said: “Our investors validate Mozido’s vision for financial inclusion on a global scale and our omnichannel mobile services. These tremendous partners will provide invaluable guidance and advice to us on Mozido’s global deployment journey.”
The company’s other investors include Brentwood Investments, Tomorrow Ventures and Atlanticus Corporate. Mozido raised $103.5m in funding in the six months leading up to May this year, as detailed in an SEC filing, part of which is likely to have gone towards the series B round.