Boku, Inc.

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Boku
Company type
Public
AIM: BOKU
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Headquarters
London
,
U.K.
Areas served
Worldwide
Key people
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  • Stuart Neal (CEO)
  • Robert Whittick (CFO)
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Number of employees
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Websitewww.boku.com

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Boku, Inc. is a mobile payments company that allows businesses to collect online payments through both carrier billing and mobile wallets, and is headquartered in London, U.K. Boku utilizes mobile network operator (carrier) data for consumers online. Boku operates in over 90 countries globally, offering a bank-grade payment system.[1]

In 2020, Boku processed over one billion billable transactions and processed over $7 billion in payments volume.[citation needed]

History

Boku was founded in 2009 by Mark Britto, Erich Ringewald and Ron Hirson[2] using the combined assets of Mobillcash Ltd. and Paymo, Inc. Boku raised a $13 million Series A investment from Khosla Ventures, Index Ventures and Benchmark.[3]

A year later, in 2010 Boku raised an additional US$25 million Series C investment, led by DAG Ventures.[4] In 2012, Boku raised another US$35 million, Series C investment led by NEA and existing venture capital investors.[5] In 2016, Boku again raised an additional US$13.75 million led by a consortium of UK investors along with GMO Payment Gateway.[6][7] In total, Boku has raised more than $91M in venture capital funding from Benchmark Capital, Index Ventures, Khosla Ventures, DAG Ventures, Andreessen Horowitz, New Enterprise Associates, Telefónica, and GMO Payment Gateway.

On November 20, 2017, Boku listed its shares on the London Stock Exchange (AIM) through an £125 million initial public offering.[8]

Expansion

In 2012, Boku launched mobile wallet payments with GCash in the Philippines.[9]

In 2013, Boku announced the acquisition of Indian-based Qubecell.[10]

In 2014, Boku launched mobile payments for the Sony PlayStation Store.[11] The same year, they acquired German-based carrier billing provider Mopay.[12]

Boku acquired Mobileview, giving the company access to all four major mobile operators in Italy.[13][14] In 2017, Boku exceeded $1B in annual payment volume for the first time.[15]

In 2018, Boku acquired Danal to add mobile authentication services that secure consumer accounts and transactions.[16][17]

In 2020, Boku acquired Fortumo, a carrier billing company, and recorded revenues of $54.6 million.[18]

Through its subsidiary, Boku Network Services IN Pvt. Ltd., Boku Inc. has obtained complete clearance from the Reserve Bank of India (RBI) to operate as a Payment Aggregator in India. This progress comes after the first in-principle permission that was given on 31 January 2023.[19]

Partnerships

Boku's payments customers include Google, Sony, Microsoft, Facebook, Tencent, Spotify, Electronic Arts, DAZN and Riot Games amongst others.[citation needed] Payments partners include mobile operators Vodafone, Verizon, Jio, Deutsche Telekom, Telefónica, Saudi Telecom (STC), SK Telecom, Zong and mobile wallet providers LINE Pay, KakaoPay, RabbitLinePay, GCash, GoPay, OVO, Dana, GrabPay.[20]

Products and services

Boku provides businesses with the ability to accept mobile payments (direct carrier billing and mobile wallets) online from consumers.[21] Boku also offers a subscription bundling product, named Trident, that enables subscription services to be offered to consumers through a mobile network operator.[22] Additionally, Boku offers mobile identity products that utilize mobile network operator data in order for consumers to verify their identity in order to complete transactions online.[23]

Recognition and awards

In 2011, Mobile Trax awarded Boku their Mobility Award.[24] In 2011[25] and 2013, Forbes selected Boku for their 25 most promising companies in America list.[26]

In 2014, Boku won the "Best Alternative Payments" award at 2014 Payment Awards.[27]

In 2020, Boku won the "Future Digital Awards" for Best Mobile Money Offering and Fraud Detection and Prevention Innovation.[28]

See also

References

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  1. ^ Page Module:Citation/CS1/styles.css has no content."Boku, Digi to launch mobile identity services for fraud protection in Malaysia". thepaypers.com. Retrieved 2021-05-03.
  2. ^ London Stock Exchange “BOKU, INC.”. Retrieved 22 May 2024.
  3. ^ Page Module:Citation/CS1/styles.css has no content.Chapman, Lizette. "Mobile-Payments Co. Boku Gets Indian Carriers With Qubecell Acquisition".
  4. ^ Page Module:Citation/CS1/styles.css has no content.Peter Kafka (19 January 2010). "Another Big Bet on Mobile Payments: Boku Raises $25 Million". All Things Digital. Retrieved 19 September 2016.
  5. ^ Page Module:Citation/CS1/styles.css has no content.Ingrid Lunden (15 March 2012). "Mobile Payment Startup BOKU Raises A $35M Round. NEA, Telefonica Among The Investors". Techcrunch. Retrieved 19 September 2016.
  6. ^ Page Module:Citation/CS1/styles.css has no content.Mannes, John. "Boku locks down another $13.75M to fund carrier connections for global expansion". TechCrunch. Retrieved 2017-09-15.
  7. ^ Page Module:Citation/CS1/styles.css has no content.Gedalyah Reback (September 2016). "Direct carrier payments get a boost as startup Boku scores $13.75 million funding round". Geektime. Retrieved 19 September 2016.
  8. ^ Page Module:Citation/CS1/styles.css has no content.Joshua Warner (20 November 2017). "DIRECT CARRIER BILLING FIRM BOKU JOINS AIM VALUED AT GBP125 MILLION (ALLIPO)". Alliance News Limited. Retrieved 12 February 2018.
  9. ^ Page Module:Citation/CS1/styles.css has no content."GCash Now Works Anywhere Thanks To BOKU Partnership With Globe Telecom". Retrieved 2021-05-03.
  10. ^ Page Module:Citation/CS1/styles.css has no content.Lizette Chapman (21 November 2013). "Mobile-Payments Co. Boku Gets Indian Carriers With Qubecell Acquisition". The Wall Street Journal. Retrieved 19 September 2016.
  11. ^ Page Module:Citation/CS1/styles.css has no content."Boku launches direct carrier billing on Sony's PS4". www.telecompaper.com. Retrieved 2021-03-28.
  12. ^ Page Module:Citation/CS1/styles.css has no content.Ary Levy (October 2014). "No slowdown in payments as Boku buys mopay". CNBC. Retrieved 19 September 2016.
  13. ^ Page Module:Citation/CS1/styles.css has no content."Boku acquires Italian mobile payment provider". www.mobilepaymentstoday.com. 2015-08-13. Retrieved 2017-09-15.
  14. ^ Page Module:Citation/CS1/styles.css has no content.Tech Team (18 August 2014). "Mobile Payment Startup Boku Acquires Mobileview Italia to Expand Carrier-Billing in Europe". The Fast Mode. Retrieved 19 September 2016.
  15. ^ Page Module:Citation/CS1/styles.css has no content."History & Development". Boku Inc. Retrieved 2021-03-28.
  16. ^ Page Module:Citation/CS1/styles.css has no content."Mobile payment co. Boku acquires Danal for up to $68M to add user authentication". TechCrunch. 6 December 2018. Retrieved 2021-02-23.
  17. ^ Page Module:Citation/CS1/styles.css has no content.Vilar, Henry (7 December 2018). "Boku takes on mobile with $112m Danal acquisition". Fintech Futures. Retrieved 11 November 2024.
  18. ^ Page Module:Citation/CS1/styles.css has no content."Mobile payments outfit Boku to buy Fortumo". Finextra Research. 2020-06-17. Retrieved 2021-02-23.
  19. ^ Page Module:Citation/CS1/styles.css has no content."The Global Reach of Boku: Reserve Bank of India Backs Boku for Payment Aggregator Services". Daily Excelsior. 2023-05-30. Retrieved 2024-04-22.
  20. ^ Page Module:Citation/CS1/styles.css has no content.Justin Llewellyn (11 April 2016). "Xsolla & Boku: Gateway to Drive Mobile Business". Xsolla Blog. Retrieved 19 September 2016.
  21. ^ Page Module:Citation/CS1/styles.css has no content.PYMNTS (2018-12-06). "Boku Buys ID Authentication Co. Danal For $68M". PYMNTS.com. Retrieved 2024-05-30.
  22. ^ Page Module:Citation/CS1/styles.css has no content.Paul Sawers (26 February 2015). "Boku launches 'phone-on-file' carrier billing to replace credit cards with phone numbers". Venturebeat. Retrieved 19 September 2016.
  23. ^ Page Module:Citation/CS1/styles.css has no content.press release (29 April 2016). "Spotify enlists Boku for carrier billing in Germany and Italy". Finextra. Retrieved 19 September 2016.
  24. ^ Page Module:Citation/CS1/styles.css has no content.Admin (25 March 2011). "Boku Wins the 2011 Mobility Award for Mobile Commerce". Boku Blog. Retrieved 19 September 2016.
  25. ^ Page Module:Citation/CS1/styles.css has no content.Brett Nelson, J.J. Colao and Max Mallet (30 November 2011). "Americas Most Promising Companies". Forbes. Retrieved 19 September 2016.
  26. ^ Page Module:Citation/CS1/styles.css has no content.Brett Nelson, J.J. Colao and Max Mallet (February 2013). "Americas Most Promising Companies". Forbes. Retrieved 19 September 2016.
  27. ^ Page Module:Citation/CS1/styles.css has no content.Scott Thompson (21 November 2014). "2014 Payments Awards: winners announced". Retail Systems. Retrieved 19 September 2016.
  28. ^ Page Module:Citation/CS1/styles.css has no content."Juniper Research Recognizes Boku with two 'Future Digital Awards'". GlobeNewswire News Room. 2020-10-01. Retrieved 2021-05-03.

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