EVONET Global raises USD 30 million in Series A round of financing
By Edil Corneille
EVONET Global announced the raise of USD 30 million in its Series A round of funding from TIS through CardInfoLink. EVONET Global is a fully owned subsidiary for CardInfoLink and is a financial services platform.
The platform helps to create a new revenue stream and increase the competitive advantage to connected mobile wallet partners by offering digitized financial services and cross-border retail payment services.
The proceeds will be used to set up an innovative platform and business for financial services to support interoperability among mobile wallet operators, QR code acquirers and financial service providers. Once established, the platform will enable cross-border retail payment transactions and digitized financial services such as remittance, insurance and other services on mobile wallets globally. Users of mobile wallets can safely and conveniently access the services anytime and anywhere.
This new round of investment is expected to enable EVONET Global to capitalize on its position as a new technology leader in the mobile payment and financial services industry in East Asia to further expand its global footprints. As the mobile payment and financial services in the region are growing exponentially, the platform can help to grow the business to greater height through interoperability and shared financial services.
“The platform can create a new revenue stream and increase competitive advantage for mobile wallet operators by enabling interoperability retail payment and allowing mobile wallet users to access Northeastern Asia digitized financial services. The transaction volume is expected to grow rapidly in near future thanks to strong mobile lifestyle adoption,” said James Zhao, CEO of EVONET Global.
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