Corporates Mastercard, Intel, Motorola Mobility and FIS have helped mFoundry, a US-based mobile banking payment company, raise $18m today.
Mastercard led the round, which mFoundry said would allow it to develop more payments products for mobiles targeted at financial institutions and mobile networks.
mFoundry’s third round of funding raised $15m in 2007, according to a statement cited by news provider Venture Beat. Other backers of that C round included PayPal, Ignition Partners and GRP Partners, Venture Beat said.
The company’s series B round raised $7.3m in 2006 with UK private equity firm Apax Partners also participating, according to a statement.
mFoundry said it has nearly 600 mobile banking and payments customers. The company added it would continue to work closely with FIS, and would look to develop payments opportunities with Mastercard, Motorola Mobility and Intel. mFoundry was founded in 2004.
Kelly Rodriques, an independent board member at mFoundry, said: "The continued support of partners like FIS and Motorola Mobility, plus the addition of powerful new strategic investors like Mastercard and Intel Capital reinforces the work the company is doing."