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Mobile Payments

Billing Revolution gathers USD 6.6 million in Series B funding

Tuesday 17 May 2011 | 11:56 AM CET

US-based mobile payments startup Billing Revolution has raised USD 6.6 million in Series B funding, led by capital venture firms DCM and SK Telecom Ventures, media outlet techcrunch.com reports.

According to the source, the new funding is expected to be used to hire marketing, business development and product staff.

Moreover, the source indicates that when consumers want to buy a digital or physical product from a vendor that employs Billing Revolution’s payment service, they are taken to Billing Revolution’s purchase page. There, they have to input several details, such as credit card number and expiration date from their phones. When the purchase is complete, Billing Revolution automatically sends an SMS receipt to consumers’ phones.

Launched in 2008, the startup offers a single-click billing and payment service for transactions on mobile phones, including Android-powered devices and the iPhone.

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