Post-VZW deal, Obopay raises another $29M in VC

Mobile payments company Obopay has raised $29 million in its third round of venture capital funding since its founding in 2006. The company raised $10 million in its first round back in March 2006 and another $7 million six months later. Obopay, then, has raised $46 million in VC to date. 

Richmond Global Cellular, an affiliate fund of Richmond Management, led Obopay's latest round, which also included investments from Qualcomm and Redpoint Ventures. New investors included AllianceBernstein, Citi and Societe Generale. The company plans to use the new funds to reach out to additional consumers and potential partners. Obopay recently announced a watershed deal with Verizon Wireless that will equip Verizon Wireless subscribers with person-to-person money transfer capabilities.

For more on Obopay:
- read this press release [1]

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