RELEASE: Obopay receives strategic funding from Wolfensohn and Co.
Obopay Receives Investment From Global Financial Investment Firm Wolfensohn & Company, L.L.C. Mobile Payments Leader Continues to Expand Consumer Marketing Efforts With New Add-On to Recent Round REDWOOD CITY, Calif., Nov. 16 -- Obopay, the first comprehensive mobile payment service in the U.S., today announced it has received from Wolfensohn & Company, L.L.C. an add-on investment to the strategic round announced last September. Obopay will leverage the additional investment to further expand its marketing and operations efforts to more quickly capitalize on the rapidly growing opportunity for mobile payments in the U.S. The company will continue to work closely with mobile operators, merchants and financial institutions to provide consumers with greater options and a seamless experience with the Obopay mobile payment service. "To receive this kind of support from such a well-known financial leader and global player further validates our leadership in this rapidly growing market," said Carol L. Realini, CEO and founder of Obopay. "We are excited to be working with Wolfensohn & Company whose support and financial industry expertise will go a long way toward the widespread adoption of mobile payments." With the Obopay mobile payment service, consumers can instantly get, send and spend money using their mobile handset. Obopay accounts can be managed completely from the mobile handset, allowing users to check their balances, request payments from other mobile users and view their transaction histories. "Mobile phones will be to money what the iPod is to music," continued Realini. "And Obopay is doing much to turn that vision into reality by offering anyone with a mobile phone flexible, affordable, and instant access to money from the palm of their hand no matter where they are." About Obopay Obopay is the first complete mobile payment service in the U.S. that instantly lets consumers get, send and spend money directly from their mobile phones to anyone, anywhere, anytime. The Obopay management team is comprised of former executives from Visa International, Microsoft, Yahoo, Expedia, AT&T Wireless, Western Union, First Data Corporation, Norwest Bank and Chordiant Software. Obopay was founded in 2005 and is based in Redwood City, Calif. For more information, please visit www.obopay.com . About Wolfensohn & Company, L.L.C. Founded by James D. Wolfensohn in 2005, Wolfensohn & Company, L.L.C. is a private investment firm and an advisor to corporations and governments. Prior to founding Wolfensohn & Company, Mr. Wolfensohn was President of the World Bank Group from 1995 to 2005. Before joining the World Bank, Mr. Wolfensohn was President and Chief Executive Officer of James D. Wolfensohn Inc., an investment firm that advised major international and U.S. corporations.