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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The problem with the Billionaire Savior phase of the newspaper collapse has always been that billionaires don’t tend to like the kind of authority-questioning journalism that upsets the status quo.

— Ryan Chittum, writing in the Columbia Journalism Review about the promise of Pierre Omidyar’s new media venture with Glenn Greenwald