According to the source, the round was led by Chinese venture capital firms Keytone Ventures and DCM. As a result, the new investment makes Papaya’s total funding reach USD 22 million.
PapayaMobile is expected to use the capital to expand its developer ecosystem in the US and Europe. In addition, the company is planning to expand its platform to the Chinese market as well, the source reports.
In recent news, PapayaMobile has made Google’s Android-powered in-app billing service available on its social gaming network.
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