MoneyOnMobile Raises $7.6 Million in New Capital Under Completed Series F Fundraise
Jan 29, 2018, 02:43 ET
DALLAS and MUMBAI, India, Jan. 29, 2018 /PRNewswire/ -- MoneyOnMobile, Inc. (OTCQB: MOMT), one of India's largest phone-based payment networks, announced the company completed a $7.6 million fundraise which will provide new capital through the issuance of Series F Preferred Shares.
"We are pleased with the positive response from investors and the speed with which we closed this investment during what is normally a relatively slow time of the year for fundraising. This capital infusion will enable us to continue to execute our business plan and drive growth across our product lines," says Harold Montgomery CEO and Chairman.
Terms of the Series F investment structure can be found in the 8k filing here: http://bit.ly/MOMTSeriesF
About MoneyOnMobile, Inc.
MoneyOnMobile, Inc. is a global mobile payments technology and processing company offering mobile payment services through its Indian subsidiary. MoneyOnMobile enables Indian consumers to use mobile phones to pay for goods and services or transfer funds from one cell phone to another. It can be used as simple SMS text functionality or through the MoneyOnMobile application or internet site. MoneyOnMobile has more than 350,000 retail locations throughout India.
Safe Harbor Statement
This release does not constitute an offer to sell or a solicitation of offers to buy any securities of any entity. This release contains certain forward-looking statements based on our current expectations, forecasts and assumptions that involve risks and uncertainties. Forward-looking statements in this release are based on information available to us as of the date hereof. Our actual results may differ materially from those stated or implied in such forward-looking statements, due to risks and uncertainties associated with our business, which include the risk factors disclosed in our Form 10-K filed on July 6, 2017. Forward-looking statements include statements regarding our expectations, beliefs, intentions or strategies regarding the future and can be identified by forward-looking words such as "anticipate," "believe," "could," "estimate," "expect," "intend," "may," "should," and "would" or similar words. We assume no obligation to update the information included in this press release, whether as a result of new information, future events or otherwise
Web site: www.MoneyOnMobile.in
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Media Contact:
Greg Allbright
Head of Global Communications
Dallas, Texas
+1 (214) 208-0923
Investor Relations:
Integra Consulting Group, LLC
Jeremy G. Roe, Founder, Managing Partner
+1 (925) 262-8305
[email protected]
SOURCE MoneyOnMobile, Inc.