Tuesday, January 24, 2012

USA: Vodafone invests in Finsphere Corp. mobile money firm.

WorldWide Tech & Science. Francisco De Jesús.

Vodafone has led an US$11.3 million investment round in Finsphere Corporation, a US vendor of identity analytics technology that is used to secure transactions including mobile payments. The investment was made by Vodafone Ventures, the venture capital arm of the mobile operator. Finsphere will use the additional backing to expand its current platform and grow its relationships with mobile operators and other key industry players. The vendor provides an analytics platform for the development of identity services that boost privacy and information protection for mobile operators.

Tobin Ireland, Vodafone’s group director of commercial development, is to join the Finsphere board of directors. In addition to the mobile operator, other participants in the round were Mohr Davidow Ventures, Shasta Ventures and Frazier Technology Ventures.  Finsphere’s solutions are used to secure a range of transactions including mobile payments as well as credit and debit card transactions, new account applications, online banking, enterprise access events and personal online identities.

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