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August 3, 2012 04:19 am GMT
Mobile payment service LevelUp, an off-shoot of Boston-based SCVNGR, announced this morning that it has raised $9 million from T-Venture, the venture capital arm of Deutsche Telekom. The investment is the second tranche of a larger funding round and brings the total raised to just over $21 million. SCVNGR itself has raised over $31 million. As a result of the investment, T-Venture Senior Manager Randeep Wilkhu will join the startup's board as an observer. As for some context: Every day theres a new headline about mobile payments solutions. It seems that every carrier and credit card company has its own system, while all the big mobile players are working on one or have one already on the market (Google Wallet). The rumors indicate that the iPhone 5 will have NFC functionality to enable Apple's entry into the mobile payments game. The point is: It's easy to be skeptical of new solutions, especially when it comes to long-term viability.
Original Link: http://feedproxy.google.com/~r/Techcrunch/~3/9AAofeax2Es/
LevelUp Now Has $21M To Take On The Squares Of The Mobile Payment World
Mobile payment service LevelUp, an off-shoot of Boston-based SCVNGR, announced this morning that it has raised $9 million from T-Venture, the venture capital arm of Deutsche Telekom. The investment is the second tranche of a larger funding round and brings the total raised to just over $21 million. SCVNGR itself has raised over $31 million. As a result of the investment, T-Venture Senior Manager Randeep Wilkhu will join the startup's board as an observer. As for some context: Every day theres a new headline about mobile payments solutions. It seems that every carrier and credit card company has its own system, while all the big mobile players are working on one or have one already on the market (Google Wallet). The rumors indicate that the iPhone 5 will have NFC functionality to enable Apple's entry into the mobile payments game. The point is: It's easy to be skeptical of new solutions, especially when it comes to long-term viability. Original Link: http://feedproxy.google.com/~r/Techcrunch/~3/9AAofeax2Es/
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