Citi Ventures Buys Stake in Billing Revolution

June 23, 2011

Citi Ventures, the investment arm of global financial services company Citigroup, has made a strategic investment in mobile payments provider Billing Revolution. The bank’s active investment in the firm follows the completion of a $6.6 million Series B funding round two weeks ago that was led by DCM and SK Telecom Ventures. Last year, Citi Ventures sponsored Billing Revolution’s Single Click Checkout Android app. Billing Revolution’s Single Click Checkout allows mobile users to single click to purchase digital and physical items globally across all mobile operating systems. “There is a lot of activity in the mobile payments space, but Billing Revolution’s platform and approach are truly innovative, and the company has the potential to be a game changer,” said Dickson Chu, Managing Director in the Global Enterprise Payments group at Citi. “That is one of the reasons why Citi decided to become both a sponsor and investor.”