Citi Ventures has made a strategic investment in mobile payments provider Billing Revolution. The investment follows its sponsorship last year of Billing Revolution’s Single-Click Checkout Android app.
It comes two weeks after the Silicon Valley start up announced a $6.6 million Series B funding round from DCM and SK Telecom Ventures. “There is a lot of activity in the mobile payments space, but Billing Revolution’s platform and approach are truly innovative, and the company has the potential to be a game changer. That is one of the reasons why Citi decided to become both a sponsor and investor,” says Dickson Chu, managing director in the Global Enterprise Payments group at Citi.
“Besides the industry validation that this investment represents, we are excited to leverage its global payments knowledge and infrastructure to really move the needle,” says Andy Kleitsch, founder and CEO of Billing Revolution. “Citi more than just ‘gets it’. They share our vision, and we will clearly benefit from this relationship.”
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