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Mobile Payments

Moven, Life.SREDA enter strategic alliance

Friday 23 August 2013 | 12:55 PM CET

US-based mobile money management services provider Moven and Russian venture capital fund Life.SREDA (Venture Fund) have unveiled the formation of a strategic partnership and investment by Life.SREDA in Moven’s ongoing early stage development with the service currently in beta in the US.

Moven (formerly Movenbank) is a digital, mobile-direct banking service. Moven was founded in 2010 and launched in alpha in 2011. In August 2012, Moven announced USD 2.41 million in seed round funding, led by Fintech investors, Anthemis Group and Raptor Ventures.

Life.SREDA is a venture capital fund focusing on investments in financial technology-based mobile and Internet projects around the globe. The fund enables product promotion in the Russian and East European markets.

In recent news, online and mobile payments company Payveris has entered an agreement with Moven to provide the latter with bill payment and money transfer services.

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