Mozido Nets $30 Million in New Financing

Dec. 9, 2013

Mozido, an Austin, Texas-based provider of cloud-based mobile payment solutions, has secured $30 million in a financing round it said eventually will reach $70 million. The investment comes courtesy of an unnamed “Boston-based investment advisor with assets under management of over $500 billion.” In total, Mozido has netted more than $100 million in capital financing from firms including Brentwood Investments, TomorrowVentures and Atlanticus Corporation.

The company also announced Ric Duques, who led First Data as its chairman and CEO until the processing giant was acquired by Kohlberg Kravis Roberts in 2007, will take over as chairman of Mozido’s board. Duques said the new investment “validates the business model” of the company’s founder, Michael Liberty.