PlaySpan raises $18mn in series C funding

MUMBAI: PlaySpan, the digital goods, micro-transaction and global payment platforms provider company, has announced that it has got $18 million investment in series C funding.

The investment is led by Vodafone Ventures and Softbank Bodhi Fund, with participation from existing investors Menlo Ventures, Novel TMT Ventures, STIC, and other undisclosed investors.
With the latest series of capital infusion, the company‘s total funding has reached approximately $42 million. The new funding will be used to expand into Europe and Asia and to grow PlaySpan‘s global publisher and user-base.

"Over the last few years, PlaySpan has emerged as the undisputed global market leader in the monetisation platform category, and we continue to drive new innovations in the payments and ecommerce space that has spurred new high-growth business models," said PlaySpan founder and CEO Karl Mehta. "It is a testament to our market-leading position, demonstrated growth, and the fast-growing digital goods micro-transactions space, that we have raised another significant round from top investors." 
Added Menlo Ventures MD and PlaySpan board member Shawn Carolan, "We‘re pleased to welcome Vodafone and Softbank to PlaySpan as they continue to lead the market in online monetisation. Their inputs will be particularly helpful as we expand internationally."

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