On Thursday, Boku, a mobile payments startup has acquired Mobileview Italia for an amount undisclosed. This deal would help the startup widen its business in Europe.
Started in 2009, Boku allows its customers to pay for good through their phone bill or phone credit and there would be no need to carry their credit card around. Critics suggested that it may not be a feasible in developing countries where the usage of credit card itself is low. However, Boku believes that though the usage of credit card is only among 34% of Italians, the number of people using smartphone are considerably high. With the payments possible through the pre-paid accounts and accounts with monthly subscription Boku is sure to make a stand in the market.
The deal would be an added advantage for the recently expanding Boku, which has recently raised $70 million from such notable venture firms as Andreessen Horowitz, Benchmark Capital, DAG Ventures, Index Ventures, Khosla Ventures and NEA. Though the terms of the deal has not been declared, Mobileview has confirmed deals with Italy’s four largest carriers covering more than 87 million mobile subscriptions which would now become Boku’s.
Mobileview is not the first acquisition for Boku. Last year it acquired Qubecell, India’s largest carrier billing company as a way to set its footprint in India, Asia and the Middle East.