Mi-Pay Ltd is a Woking, UK–based processor of payments for the mobile money sector. Its existing service enables customers to top-up prepaid mobile phones directly online or via their mobile phones rather than using indirect brand channels. The company plans to roll out new mobile money services that allow customers to top-up pre-paid phones on behalf of friends or relatives overseas, enable banks and mobile operators to run domestic money transfer services in emerging markets, and allow money transfer networks to run direct online and mobile-initiated transfers. Mi-Pay currently operates throughout Europe, Africa and the Middle East and counts Tesco Mobile, The Carphone Warehouse, Vodafone, Du in UAE, KPN Telfort and Zain among its clients. The company raised £3m in equity financing to fund these rollouts.

Total raised

$5M

Funding rounds

1

Latest round

Equity

Latest activity

Feb 2010