Calpian to get USD 5 mln in funding

Monday 17 March 2014 09:00 CET | News

US-based payment processor and mobile payments technology firm Calpian is to receive up to USD 5 million in investment from entrepreneur Craig Hall, chairman and founder of Hall Financial Group.

Calpian offers transaction processing services in the US, as well as mobile payments technology in India through its Indian Money-on-Mobile subsidiary.

Halls investment includes an initial funding of USD 1 million in Calpian and takes the form of Series C preferred stock that can convert into the companys common stock on the same terms as its next equity raise.

Money-on-Mobile is a prepaid Indian mobile payment service that allows customers to use their mobile phones for making payments and transferring funds from one phone to another via SMS.

Hall will advise the company on financial matters for a period of three years.

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Keywords: Calpian, funding, mobile payment, US, payment processor, Money-on-Mobile, India subsidiary
Categories: Payments & Commerce
Countries: World
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