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Bringing Banking To Immigrants & Unbanked, m-Via Rebrands As Boom Financial, Closes On $17 Million In Funding

Sarah Perez

Wednesday, July 18, 2012 - 09:41

Global mobile money transfer service m-Via is officially rebranding as Boom Financial today as it announces the close of a $17 million round of funding, led by mobile operator Digicel Group Ltd.

Global mobile money transfer service m-Via is officially rebranding as Boom Financial today as it announces the close of a $17 million round of funding, led by mobile operator Digicel Group Ltd. The carrier stretches across 31 markets, including the Caribbean, Central America and South Pacific – all geographies Boom Financial aims to target with its service, which provides immigrants and the unbanked with a way to transfer money internationally. Also participating in the round were previous investors RRE Ventures and MATT.org. The new round brings the company to over $30 million in total funding to date.

m-Via, now Boom, has been working on a way to eliminate a need for cash wire transfer services by providing an alternative means to send money across borders using just a text message. Under its umbrella, m-Via developed two products, a consumer-facing service for sending money via mobile (get it? m-Via?) and a mobile money network called Axon, which is designed as an enterprise solution for banks, wireless companies and others.

Read the full story by clicking the link below
http://techcrunch.com/2012/07/18/bringing-banking-to-immigrants-unbanked-m-via-rebrands-as -boom....
 
Tags: Mobile Money Transfer, Americas, International Remittance, m-Via, Boom

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