San Francisco based carrier billing and mobile payments platform – Boku has acquired Indian direct carrier billing company Qubecell. This would be first acquisition made by Boku which has left financial details of the deal undisclosed.
Qubecell is a mobile billing aggregator and was launched in 2012, it integrates with operators throughout India and provide payment solutions through carrier billing by monetization of mobile internet traffic, social gaming and mobile services.
The acquisition will provide Boku with direct carrier billing connections with four carrier networks in India along with a number of key local merchant relationships. It will also enable Boku’s carrier billing technology to reach more than 75% of the country’s mobile subscribers, including about 550 million users.
“India is a tremendously important market for direct carrier billing. What Qubecell has built and the market leadership position they’ve acquired in such a short period of time is extremely impressive.” Said Jon Prideaux, Chief Business Officer for Boku. “This acquisition is truly the joining of a market leader with a global leader to benefit customers and merchants throughout the region. Our plan is to leverage the resources built by Qubecell to create a regional hub for our company’s global operation that will provide support for our merchant and carrier customers across Asia, the Middle East, and Australia while helping to continue our expansion into the emerging markets.”
Post acquisition, Qubecell’s team will be joining the existing Boku organization with the Founder & Ranjan R. Reddy, CEO, Qubecell, will be joining Boku as part of the leadership team in Asia.
Based in San Francisco with offices in Europe, Latin America, and Asia, Boku reaches nearly 4 billion consumers worldwide, across 70 different countries with more than 270 operators.
Qubecell is funded by Kae Capital, Blume Ventures, Mumbai Angels and Russian investor TA Ventures. On the other side, Boku is backed by Silicon Valley VC’s like Andreessen Horowitz, Benchmark Capital, NEA and Khosla Ventures,
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