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Mobile Payment Firm Obopay Gets $7 Million Funding; Adds Three VPs

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U.S. Mobile payment company Obopay has secured $7 million in funding in a second round led by Qualcomm and joined by Redpoint Ventures, Onset Ventures and Richmond Management, which all contributed to the first round of $10 million last February. The funding will be used by Obopay to expand its marketing and operations. As for Qualcomm: “We look forward to working with Obopay and driving mass consumer adoption of their innovative peer-to-peer mobile payments solution on the BREW platform.”
The company also added three new VPs: Christian Delay, VP of business development for mobile; Ramy Mora, VP of consumer marketing; and Sam Shawki, VP of customer operations.  Christian joins Obopay from Yahoo, where he led development initiatives at Yahoo Go Mobile with Cingular, Yahoo SMS Search, and the “Pepsi Cool Tones and Motorola Phones” promotion.

Sep 5, 2006 11:10 AM ET

Posted In: Money, M&A & Venture Capital

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