TomorrowVentures Provides Growth Funding to Mozido to Offer Financial Services to the Unbanked and Under-banked Population

Dallas-based Mozido, LLC, a leader in multichannel financial transaction services, has secured growth funding from TomorrowVentures, a California-based investment firm focused toward seed and early-stage venture capital investments. Established in 2006 and focused on the unbanked and under-banked population, Mozido offers a complete suite of mobile financial services and processes financial transactions across multiple channels — mobile devices, POS terminals and the Internet.

With the recent funding from TomorrowVentures, Mozido will continue to offer financial institutions, mobile network operators and retailers the ability to provide global financial services to unbanked and under-banked consumers.  In addition, this growth funding will ensure the launch of a number of commercial deployment programs in 2011 that specifically serve the unbanked population.

“We are pleased to support the growth of Mozido,” said TomorrowVentures Managing Partner Court Coursey. “There is an established and growing need for consumers to transact utilitarian financial services on demand from wherever they are via any device and Mozido possesses the software platform and experience to make that dream a reality.  There is a tremendous opportunity to enable the unbanked and under-banked populace access to the financial services they require in their everyday lives,” he said.

Mozido offers financial transaction processing services to retailers, financial institutions and mobile network providers.  In a convenient, secure and cost-effective manner, Mozido puts the power to move money, pay bills, make purchases and accept social payments in the hands of consumers around the globe.

“We are very excited for this opportunity to enhance and expand our suite of mobile financial services into new markets via the financial support of TomorrowVentures,” said Mozido Chief Executive Officer Craig McNeil.  “Through our low-cost white-labeled mobile financial services market strategy, our offering is available to a sizable market of more than two billion unbanked and under-banked global consumers,” he said.

About Mozido

Mozido provides a complete suite of low-cost, white-labeled mobile financial transaction services to serve unbanked and under-banked consumers.  Mozido’s comprehensive financial services solutions enable the movement of money, payment of bills and purchase of goods and services across multiple channels via mobile and electronic devices.  Mozido puts the power of commerce in the consumer’s hands — anywhere, anytime.  For more information about Mozido’s services and to learn what Mozido can do for your company, visit www.mozido.com.

About TomorrowVentures

TomorrowVentures is an opportunistic investment firm with a focus toward seed and early-stage venture capital investments that develop innovative ideas that have the power to change the way people live, interact, and thrive.  Founded in 2009 with a unique approach to venture capital and an extensive, diverse base of experience and expertise, TomorrowVentures adds value far beyond capital. Its goal is to grow companies capable of transforming technology, lifestyle and philanthropy. For more information about TomorrowVentures, visit www.tomorrowvc.com.

CONTACT: Juliet Sun, +1-972-953-8784, juliet.sun@mozido.com

Web Site: http://www.mozido.com

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