Since its inception, global mobile payments company Boku has raised a total of $75 million from investors like Andreessen Horowitz and Khosla Ventures.
Now the California-based company is putting some of that cash to use with its recently announced acquisition of Qubecell, an India-based mobile billing aggregator.
In India’s fragmented carrier billing market, Qubecell is the biggest player in the nation, and has partnerships with 4 of the countries’ largest carrier networks, which have the potential to reach 75% of the mobile phone users in the nation.
According to TechCrunch, the acquisition, which is Boku’s first, will not only help it move into the India market, but will also give it access to Qubecell’s engineering talent. It also opens the door to additional global markets such as Asia and the Middle East.
The terms of the deal were not disclosed.
Boku took the stage at FinovateEurope 2011 where it demonstrated its mobile payment service.