Boku raises $13.75m to fund new operations

Jason McGee-Abe
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Boku secures $13.75 million in further venture funding to drive new carrier connections and payment operations

The latest tranche of funding, which brings the total amount Boku has raised to $91 million since it was founded in 2009, will expand carrier billing across numerous connections in developed and emerging markets around the globe, providing millions of new mobile subscribers to fuel Boku’s growth.

The news comes after Google, Microsoft, Sony and Spotify have all increasingly focused on making carrier billing the preferred alternative payment option and have subsequently signed deals with Boku.

“Carrier billing is evolving from being a niche product for phone-centric content into a mainstream payment method used by the world’s major brands for all types of digital products. The world’s biggest tech companies see tremendous potential in the power of the phone as a source of funds,” said Jon Prideaux, CEO of Boku.

“Better technology and increased consumer awareness are ensuring that this new payment method is being used more widely and is undoubted proof that carrier billing is becoming the world’s preferred alternative payment, regardless of consumer access to credit or bank cards.”

Many of Boku's early investors decided to reinvest in the company, along with a consortium of UK investors, led by Andrew Black (founder, Betfair) and Robert Markwick (Goldman Sachs alum, current AngelList investor).

Since its launch, Boku has worked with over 250 carriers and launched operations in more than 70 countries.