NextBillion - An Initiative of the William Davidson Institute at the University of Michigan

Thursday, October 23, 2014

AUSTIN, Texas, Oct 22, 2014 (BUSINESS WIRE) — Mozido, a provider of mobile financial, retail and marketing services, today announced a two-part round of Series B funding of up to $400 million. The first $185 million has been funded by MasterCard, Wellington Management, H.R.H. Sheikh Nahyan of UAE, and Julian H. Robertson, Jr., chairman and chief executive officer at Tiger Management. A total of $265 million in capital has been raised by Mozido over the past 12 months, making Mozido the top-funded private mobile payments company.

“Investing and partnering to innovate and accelerate the adoption of mobile payments and services globally is part of MasterCard’s DNA,” said Gary Flood, President, Global Products and Solutions, MasterCard. “Mozido’s strength in building versatile mobile financial and retail solutions that can be used around the globe and across borders makes them a perfect partner for MasterCard’s prepaid card, payment and security services.”