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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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