Deal Radar 2009: BOKU

BOKU is a global online payment company with a new mobile payment service which enables mobile phones to pay for digital goods and social experiences across the web. The company gets mobile users access to bank-grade technology, creating a viable and accessible market for consumers, publishers and carriers. Since most people today don’t have a

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Catching Up On Readings: Vision India 2020

In case you are reading today, Happy July 4th. And here’s some reading to catch up on: Vision India 2020: Renaissance, Gangotri, Maya Ray, Elixar, Bioscope. Entrepreneur Case Studies: Carol Realini (Obopay), Steve Hafner (Kayak), Ramu Yalamanchi (Hi5), Francisco Martin (Strands), Samir Arora (Glam) and Jacob Jacobsson (Blaze DFM).

Forbes Column 08: Mobile Microfinance

My new Forbes column, Mobile Microfinance discusses how startups are trying to use the cell phone to bring banking to the under-banked.

Bringing Banking To The Cell Phone Masses : Obopay CEO Carol Realini (Part 8)

SM: What has been your financing strategy? CR: One skill set I brought was fundraising experience. We did your typical small seed round, primarily led by the principles who put money down to build the first prototype. The first real round was led by Redpoint.

Bringing Banking To The Cell Phone Masses : Obopay CEO Carol Realini (Part 7)

SM: When did you make the decision to go to India? CR: A little over a year ago we had an investor say “it is time to go to India now”. I went over to India and it was clear the opportunity was there. By the time my trip was over I hired a head

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Bringing Banking To The Cell Phone Masses : Obopay CEO Carol Realini (Part 6)

SM: Do you maintain relationships with multiple banks or a single bank? CR: We have relationships with multiple banks which is similar to how PayPal uses two banks. They use Chase and Wells Fargo. Historically companies buy wholesale services from different providers and, depending on their capabilities, buyers can be selective where they go for

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Bringing Banking To The Cell Phone Masses : Obopay CEO Carol Realini (Part 5)

SM: Can you deposit into the cell phone account? CR: You can’t do that and nobody has asked us for that. Behind the scenes the money is always in a bank. When I send you money you as the user have to make a decision. Do you want to keep the money on the phone

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Bringing Banking To The Cell Phone Masses : Obopay CEO Carol Realini (Part 4)

SM: You were able to recognize this as a rudimentary structure which could support banking … CR: Exactly. I just said, “Wow, there you have it! If we could just generalize the value being put into all of those phones we would have a banking system!” That type of banking system could reach places like

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