Thursday, October 22, 2009

MPOWER Mobile Gets New Investment

Austin-based MPOWER Mobile, a developer of mobile payment technology, said Wednesday that it has received a strategic investment from Mike Maples, Jr. and Todd Smith, founder of Tivoli. Amount of the funding was not disclosed. The firm said the funding will go towards supporting expansion into key markets and for technology development. Maples and smith join Roy Sosa, Bertrand Sosa, and Jorge Vergara, who also have invested in the firm. Maples is the managing partner of Maples Investments, and Smith was founder of Tivoli Systems. MPOWER Mobile is developing technology to make payments using SMS.