Secured funding
Mo9, a credit service for mobile games, has raised a Series B round from Bertelsmann Asia Investment Fund and existing investor Sequoia Capital. The total funding was not disclosed other than that it was millions of dollars.
Owned by Shanghai company Gamax Interactive, Mo9 allows users to play a game first and pay for it over time enabling them to receive credit ratings for the future. Mo9 is based in Palo Alto but operates globally including in Canada, Germany, Australia, Brazil and Malaysia.
Sequoia Capital is one of mo9’s main investors. mo9 authorizes and processes mobile payment transactions for the world’s best known social platforms and digital content merchants. With mo9 service, you can buy online items by simply using your mobile phone number. It also gives you complete freedom and flexibility to choose how you repay. You can find mo9 in popular social games, web games and mobile apps.
Whitepapers
Related reading
Central banks best suited to issue digital currencies
By Aaran Fronda A recent report by the Official Monetary and Financial Institutions Forum (OMFIF) said that central banks rather than private ... read more
Instant payments: innovations inbound for corporates
In 2020, instant payments look set to continue their current trajectory to become the biggest trend in payments. While these schemes already offer numerous benefits to corporates, leveraging innovations such as APIs and request to pay will go some way to unlocking their full potential, argues Michael Knetsch
Obstacles exist for banks to meet ECB’s instant payments goal
The cost of joining instant payment platforms will be one of many hurdles banks and payment services providers must overcome to meet ... read more
Banks must be aware of “biases” in data used to train ML models
Financial institutions need to be conscious of biases in the historical data that is being used to train machine learning (ML) models, ... read more
