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B of A invests in mFoundry
June 30, 2008
SAN FRANCISCO — mFoundry, a mobile-financial-technology provider, says Bank of America Strategic Investments Corp. has completed a strategic investment in its company.
According to a news release, B of A complements mFoundry's existing strategic investors —Motorola, PayPal and NCR Corp. — and venture backers GRP Partners, Ignition Partners and Apax Partners.
MFoundry says its platform, which enables banking, payments, wallets, and eCommerce from mobile phones, is a widely used platform in the United States.
"We are very pleased to have Bank of America as an investor in our company," said Drew Sievers, chief executive and co-founder of mFoundry. "We are proud to have Bank of America's investment in our company as our products continue to gain support from financial and mobile industry leaders."
MFoundry works with Citi, BB&T, Fidelity National, PayPal, PSCU and ACI, and most recently was selected by Bank Technology News as the No. 1 technology company to watch.
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