Richmond, VA 23235
|V-Ten Capital Partners announces Series A investment in the world’s first multi-national mobile banking network.|
August 11, 2009 – Richmond, VA and Washington, DC – V-Ten Capital Partners, a Richmond, VA based private investment firm, announced today the closing of its Series A equity investment in the world’s first multi-national mobile banking network which supports mobile phone-enabled financial services in emerging market countries. The company licenses its mobile banking network platform to microfinance organizations that desire to launch mobile financial services for their customers. Services provided to customers include loan payment, bill payment, merchant purchases, cash deposit, cash withdrawal, peer-to-peer transfers and international remittances. In each country served, the company partners with a leading mobile network operator and enlists merchant participation for mobile payment acceptance. Network operations will be based in Tbilisi, Georgia which will support licensed mobile banks in Eastern Europe, Central Asia, the Middle East and parts of Africa.