Rixty is a cash-based payment platform that enables unbanked users to purchase credits redeemable for games, virtual goods and other digital content. The product lets people without credit cards buy credits through physical payment points and integrated publisher flows. Rixty operates 75,000 payment points in the U.S., 66,000 in Brazil and a total of 500,000 payment points worldwide, and has partnerships with 70 game publishers. The company is based in San Francisco and retains its founding team and most past investors as significant shareholders after the transaction. The investment by MOL is intended to expand Rixty’s reach and integration with global publishers across North and South America. Both companies are already active in mobile payments and expect to cooperate on mobile and virtual payments going forward. Rixty is a San Francisco-based alternative payment platform that enables consumers without credit cards or bank accounts to create spending accounts for online entertainment. Its platform lets users fund accounts by taking cash to one of 20,000 locations, including Coinstar kiosks and participating convenience stores. The company raised $1.24M in seed capital to fuel growth. The round was led by Javelin Venture Partners with participation from Accelerator Ventures, First Round Capital, Freestyle Capital, Nueva Ventures, Soft Tech VC and other strategic angel investors. Rixty will use the funds to accelerate growth of its publisher network, expand its product offering and increase its user base. In conjunction with the financing, Noah Doyle of Javelin Venture Partners and Keval Desai, vice president of product at Digg, will join Rixty's board of directors.

Total raised

$1M

Funding rounds

2

Latest round

Seed

Latest activity

Jan 2010