Deutsche Telekom Invests $9 Million in Mobile Payments Player LevelUp

It takes money to make money: Boston-based LevelUp, a mobile payments service, has raised $9 million from T-Venture, Deutsche Telekom’s investment arm, and other investors. This cash injection will be added to the company’s most recent round, bringing the total to $21 million. Last month, LevelUp made a big splash when it launched an alternative payment platform that charged merchants absolutely nothing.


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Just as the atom bomb was the weapon that was supposed to render war obsolete, the Internet seems like capitalism’s ultimate feat of self-destructive genius, an economic doomsday device rendering it impossible for anyone to ever make a profit off anything again. It’s especially hopeless for those whose work is easily digitized and accessed free of charge.

— Author Tim Kreider on not getting paid for one’s work