M-Via Closes $17 Million Round to Serve the “Unbanked”

Palo Alto-based m-Via has raised $17 million to fund the development of its mobile money services, which allow the “unbanked” to send money using text messages instead of expensive wire transfers. The company, which is also changing its name to Boom Financial, will use the funds to expand in the U.S., Latin America and the Caribbean. Digicel Group led the round, with RRE Ventures and MATT.org also participating. The company has raised more than $30 million to date.


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I think the NSA has a job to do and we need the NSA. But as (physicist) Robert Oppenheimer said, “When you see something that is technically sweet, you go ahead and do it and argue about what to do about it only after you’ve had your technical success. That is the way it was with the atomic bomb.”

— Phil Zimmerman, PGP inventor and Silent Circle co-founder, in an interview with Om Malik