A strategic partnership announced by Moven will bring investment capital to the company’s mobile money management service, now in beta in the U.S.
The amount of the investment was not disclosed. Nevertheless the capital comes courtesy of Russian venture capital firm, Life.SREDA, which specializes in mobile and online fintech initiatives around the world.
In addition to helping raise Moven’s profile in markets in Eastern Europe and Russia, the investment is slated to support early stage development in the company’s signature service.
News of the company’s partnership with Life.SREDA comes just one day after Moven announced a deal with mobile payments company, Payveris. The agreement will bring bill pay and money transfer features to Moven’s money mangement platform.
New York-based Moven was founded in 2011, and has raised more than $2.5M in seed funding heading into this week’s announcement. The company was last on the Finovate stage as part of the Spring show in San Francisco earlier this year. See Moven’s demo here.