Bango Raises $10.2M To Take Its Mobile Payments Service Into Brazil, India And Other Asian Markets

Mobile payments company Bango -- provider of carrier billing services to the likes of Facebook, Amazon, Telefonica, Google, Blackberry, Opera and more -- doubled down on its emerging market strategy. The publicly-traded company announced today that it has raised ?6.5 million ($10.2 million) through a placing of 3,250,000 new ordinary shares on the London Stock Exchange at 200 pence per share, with institutional investors the main buyers in an "oversubscribed" offering. The funds, Bango says, will be used to expand its operations in markets like Brazil and India, as well as other parts of Latin America and Asia.

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