Wipit’s major offering is a mobile wallet service, which, in a combined effort with Boost Mobile, was launched
specifically to serve the underbanked community. Any user with a mobile phone has access to the mobile wallet– even if they don’t have a bank account.
Since Core Innovation Capital focuses on supporting innovations that serve the underbanked community, Wipit is a good candidate for the funding.
The California-based company plans to use this Series A round to expand consumer adoption.
To learn more about Wipit, watch its FinovateSpring 2012 demo.