Paymo, Inc. has raised $5 million in seed financing. Paymo is the first company to address the needs of online merchants for a global micro-payments solution for digital content and services. The financing round was provided by prominent angel investors in the U.S. and Europe and will be used to accelerate product development and marketing.
Paymo connects online merchants with the world’s more than 3 billion mobile phone users, enabling purchases of digital content and services to be charged to the mobile phone bill. The Paymo network is built on a unique connectivity architecture and technology platform that makes it possible for web and mobile merchants everywhere in the world to increase digital content sales by reaching any consumer with a mobile phone in any country.
[Here’s a demo of Paymo]