Core Innovation Capital closes deal with Wipit

Thursday 12 September 2013 13:26 CET | News

US software-based financial services provider Wipit has unveiled that it has closed a Series A venture round of funding from venture capital firm Core Innovation Capital. The financial terms of the agreement have not been disclosed.

The investment is set to be used to expand adoption and development of the companys mobile payments and financial services offerings. Core Innovation Capital, the investment partner of the Center for Financial Services Innovation (CFSI), invests in financial technologies assisting the underbanked at scale. Core managing partner Arjan Schutte is set to join Wipits Board of Directors.

Wipit is a mobile payments venture focused on serving unbanked and underbanked consumers. Wipit provides to these consumers a mobile wallet application and an integrated Visa prepaid card. Consumers can use the mobile wallet application to pay directly for such financial services as international money transfer, bill payment and prepaid mobile top-up.

In recent news, Boost Mobile, a US provider of wireless phones and services, has rolled out Quick Check service which comes as an enhanced feature of Boost Mobile Wallet powered by US software-based financial services provider Wipit, a mobile solution that allows Boost Mobile Android-powered smartphones to serve as a cash-based vehicle for accessing financial services.

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Keywords: Core Innovation Capital, wipit, Series A venture round of funding, mobile payments, underbanked
Categories: Payments & Commerce
Countries: World
This article is part of category

Payments & Commerce