Obopay Inc Secures $20 Million From Essar, Qualcomm, Promethean India And Others

Entities Mentioned

• Nikhil Pahwa
• Vodafone
• Qualcomm
• Essar
• Alliance Bernstein
• Redpoint Ventures

1. Mobile payment company Obopay Inc has secured a $20 million in a fourth round of investment led by India's Essar Communications Holdings, and included Alliance Bernstein, ONSET Ventures, Redpoint Ventures, Richmond Management, Citi, Societe Generale, Qualcomm (NSDQ: QCOM) and Promethian India. Obopay has also named K.B. Rajendran, SVP Essar Global and Robert G Hottensen Jr, SVP (Public Equity) at Olayan America Corporation as new members of its board of directors. There had been reports last year of Promethean Investing $5 million in Obopay India, but there's no confirmation of whether that happened. [via release and ... (Read Full Article)
   
   

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