PlaySpan, Inc., the global leader in digital goods, micro-transaction and global payment platforms, today announced $ 18 million in Series C investment led by Vodafone Ventures and Softbank Bodhi Fund, with participation from existing investors Menlo Ventures, Novel TMT Ventures, STIC, and other undisclosed investors.
This new capital increases the company's total funding to approximately $ 42 million. The new funding will be used to expand into Europe and Asia and to grow PlaySpan's global publisher and user-base.
"Over the last few years, PlaySpan has emerged as the undisputed global market leader in the monetization platform category, and we continue to drive new innovations in the payments and ecommerce space that has spurred new high-growth business models," said Karl Mehta, Founder & CEO of PlaySpan. "It is a testament to our market-leading position, demonstrated growth, and the fast-growing digital goods micro-transactions space, that we have raised another significant round from top investors."
PlaySpans UltimatePay Monetization-as-a-Service model has gained rapid adoption and is poised for tremendous growth because it provides developers and publishers an integrated out-of-the-box platform for managing secure, efficient, global micropayments, ecommerce, and micro-transactions across 180 countries. PlaySpans consumer facing monetization services have attracted millions of users across its industry leading Ultimate Game Card and PlaySpan.com marketplace, said Mehta.
PlaySpan has emerged as the clear industry leader in this fast-growing space and has built a full stack platform that is proven with millions of consumers and thousands of merchants worldwide," said Matthew Fix, Principal, Vodafone Ventures. Were thrilled to be able to support their ongoing success with both partners and end-users as they realize their full vision of a universal micro-payments solution."
Were pleased to welcome Vodafone and Softbank to PlaySpan as they continue to lead the market in online monetization. Their inputs will be particularly helpful as we expand internationally, Shawn Carolan, Managing Director, Menlo Ventures and board member of PlaySpan Inc.
About PlaySpan, Inc.
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