MoneyOnMobile is a global mobile payments technology and processing company offering phone-based payment services through its Indian subsidiary. Its solution enables Indian consumers to pay for goods and services or transfer funds from one cell phone to another using SMS, the MoneyOnMobile application, or its website. The company reports more than 350,000 retail locations throughout India. MoneyOnMobile completed a $7.6M Series F funding round led by Harold Montgomery. The company is publicly traded as OTCQB: MOMT. MoneyOnMobile is based in Mumbai. MoneyOnMobile is India's largest mobile payments technology and processing company that offers digital payment services to cash-using businesses and consumers. Its core product is an SMS-based electronic wallet and payment-processing platform that enables users to pay for goods and transfer funds between cell phones without cash. The company says it covers all of India with a single-source solution reaching the cash-using population. In December 2016 MoneyOnMobile announced a new $1.5 million unsecured credit facility to provide enhanced financial capabilities. Management stated the proceeds will support growth strategies and the priority effort to help Indian consumers digitize their currency through MoneyOnMobile electronic wallets. The press release lists Dallas, Texas and Mumbai, India and includes a safe-harbor statement referencing its Form 10-K.

Total raised

$8M

Funding rounds

2

Latest round

Series F

Latest activity

Jan 2018