Obopay Gets $20 Million Plus 2 Board Members

Obopay, which claims to have the first mobile payment service created exclusively for mobile phones, has added $20 million to its coffers and two members to its board of directors.

Essar Communications led the round, Obopay’s fourth, and was joined by prior investors Alliance Bernstein, Onset Ventures, Redpoint Ventures, Richmond Management, Citi, Societe Generale, Qualcomm and Promethean India. Essar senior VP K.B. Rajendran and Robert Hottensen, senior VP for public Equity at Olayan America are the new board members.

Additionally, some Obopay employees also invested, using Obopay on their cell phones to transfer the funds.

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