Mobile-payments startup Mozido has collected the first $185 million of a planned $400 million round of financing led by MasterCard, the Austin Business Journal reported on Wednesday (Oct. 22).
Mozido said it will use the Series B funding for "strategic acquisitions" to expand into China, India, Africa, Europe, Latin America and the Middle East. The company, based in Austin, Texas, already offers mobile payments and marketing in the U.S., Latin America and the Caribbean.
Investors in the round included MasterCard, Wellington Management, H.R.H. Sheikh Nahyan bin Mubarak Al Nahyan, and Tiger Management. The company didn't announce when it would collect the remaining $215 million for the round. Mozido has already raked in $395 million since its launch in 2008, two thirds of it in the past year.
MasterCard didn't announce any specific projects it plans to partner with Mozido for. But MasterCard Global Products and Solutions President Gary Flood said that "Mozido’s strength in building versatile mobile financial and retail solutions that can be used around the globe and across borders makes them a perfect partner for MasterCard’s prepaid card, payment and security services."
Mozido provides a cloud-based platform for mobile payments, shopping and marketing solutions, with real-time customer behavior analytics for retailers.