Obopay plans big for mobile payments. Raises $29M

By Vivek | July 12th, 2007 at 09:59 am ET         

Obopay is on the roll once again. The mobile payments startup has raised another $29 million in funding. The funding round was led by Richmond Global Cellular, an affiliate fund of Richmond Management LLC comprising premier international investors. Besides that current investors of Obopay also participated in the funding round, which includes Qualcomm and Redpoint Ventures. Other new investors include AllianceBernstein L.P., Citi, Societe Generale, and others.

Obopay had earlier raised $7 million in a strategic investment round lead by Qualcomm last year in September and raised $10 million in March 2006 for it’s Series A round from Redpoint Ventures, ONSET Ventures, and Richmond Management.

The startup had done a deal with Citibank earlier this year. Not sure when this integration will hit the market and what the real uptake is going to be.