Bank technology

Obopay Attracts More Venture Funding

Published July 13, 2007, 1:00 a.m. EDT

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Updated July 12, 2007, 4:32 p.m. EDT

1 Min Read

The Redwood City, Calif., mobile phone payment company Obopay Inc. said it has raised $29 million in a third round of venture funding.

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Richmond Management LLC led the funding. Other participants included AllianceBernstein LP, a new investor, and two companies that participated in previous rounds: Qualcomm Inc. and Redpoint Ventures.

"In a short time, Obopay has clearly demonstrated their ability to execute, bringing a product to market that has garnered widespread adoption and that has defined the emerging landscape of mobile payment services," Jamie Kiggen, a senior vice president at AllianceBernstein, said Thursday in a press release.

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Bank technology

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