About Fortumo
Fortumo is a company based in Tartu (Estonia) founded in 2007 was acquired by Boku in June 2020. Fortumo has raised $10 million across 1 funding round from investors including Boku, Intel Capital and Greycroft. Fortumo offers products and services including Boku Payments, Subscription Bundling, and Mobile Wallet Network. Fortumo operates in a competitive market with competitors including Boku and Paytailor, among others.
- Headquarter Tartu, Estonia
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Sectors
Financial Services
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Phone
Locked
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Website
Locked
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Social
Locked
- Legal Name Fortumo Mobile Services Private Limited
- Date of Incorporation 26 Feb, 2014
- Jurisdiction New Delhi, Delhi, India
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Annual Revenue
$10.14 K (USD)-86.17as on Mar 31, 2023
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Net Profit
-$87.34 K (USD)-710.71as on Mar 31, 2023
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EBITDA
-$68.8 K (USD)-487.17as on Mar 31, 2023
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Total Equity Funding
$10 M (USD)
in 1 rounds
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Latest Funding Round
$10 M (USD), Series A
Jun 01, 2012
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Investors
Boku
& 2 more
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Employee Count
Not available
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Acquired by
Boku
(Jun 17, 2020)
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Products & Services of Fortumo
Fortumo offers a comprehensive portfolio of products and services, including Boku Payments, Subscription Bundling, and Mobile Wallet Network.
Platform for connecting merchants to local payment methods securely
System for bundling subscriptions with mobile billing options
Network facilitating mobile wallet transactions globally
Funding Insights of Fortumo
Fortumo has successfully raised a total of $10M through 1 strategic funding round. The most recent funding activity was a Series A round of $10 million completed in June 2012. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
Investors in Fortumo
Fortumo has secured backing from 3 investors, including venture fund investors. Prominent investors backing the company include Boku, Intel Capital and Greycroft.
| Investor | Description | Founded Year | Domain | Location |
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Investment in technology startups focusing on compute, AI, and related innovations.
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Multiple sectors are targeted for venture capital investments by Greycroft.
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Provider of a global mobile payment network
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Investor details for Fortumo
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Investments & Acquisitions by Fortumo
Investment portfolio details for Fortumo
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Financial Statements - Fortumo
Detailed financials for Fortumo
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Fortumo Comparisons
Peer comparison for Fortumo
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Competitors of Fortumo
Fortumo operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Boku and Paytailor, among others.
| Company Name | Domain | Founded year | HQ Location | Description |
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| Locked | Locked | Locked |
Provider of a global mobile payment network
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Mobile payments are enabled via carrier billing for merchants.
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Detailed competitors of Fortumo
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Latest news on Fortumo
Complete news archive for Fortumo
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Frequently Asked Questions about Fortumo
Fortumo was founded in 2007 and raised its 1st funding round 5 years after it was founded.
Fortumo is headquartered in Tartu, Estonia.
Fortumo is a funded company, having raised a total of $10M across 1 funding round to date.
Annual revenue of Fortumo is $10.14K as on Mar 31, 2023.
Provider of a mobile payment network connecting merchants to local payment methods. This network facilitates seamless transactions by integrating with various local payment systems. The platform is designed for automatic, repeatable charges and aims to minimize chargebacks through mobile phone-secured authorizations. It offers customized implementations to meet specific enterprise needs, including reverse merchant integrations and bespoke product requirements. The network prioritizes high-performing local payment methods to maximize reach, conversion, and retention for its clients.
Fortumo offers Boku Payments, Subscription Bundling, and Mobile Wallet Network.
Fortumo has 3 investors. Key investors include Boku, Intel Capital, and Greycroft.