Fortumo

Tartu, Estonia Founded: 2007 • Age: 19 yrs Acquired By Boku
Provider of a mobile payment network connecting merchants to local payment methods
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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
  • Sectors
    Financial Services
  • Phone
    *********
  • Website
    *********
  • Social
    *********
  • Legal Name Fortumo Mobile Services Private Limited
  • Date of Incorporation 26 Feb, 2014
  • Jurisdiction New Delhi, Delhi, India
Operational Areas
Financial Services → FinTech & Digital Finance → →
Key Metrics
  • Annual Revenue
    $10.14 K (USD)
    -86.17
    as on Mar 31, 2023
  • Net Profit
    $-87.34 K (USD)
    -710.71
    as on Mar 31, 2023
  • EBITDA
    $-68.8 K (USD)
    -487.17
    as on Mar 31, 2023
  • Total Equity Funding
    $10 M (USD)

    in 1 rounds

  • Latest Funding Round
    $10 M (USD), Series A

    Jun 01, 2012

  • Investors
    Boku

    & 2 more

  • Employee Count
    Employee Count
  • 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. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.

Primary

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.

  • Total Funding
  • Total Rounds 1
  • Last Round Series A — $10.0M
  • First Round

    (01 Jun 2012)

  • Investors Count 2
Date Amount Transaction Name Valuation Lead Investors Investors
Jun, 2012 Amount Series A - Fortumo Valuation Intel Capital , Greycroft
Date Amount Transaction Name Valuation Lead Investors Investors
Jul, 2021 Amount Post-IPO - Grab Valuation

investors
Emtek
Feb, 2021 Amount Post-IPO - Grab Valuation

investors
Signite Partners
Jan, 2021 Amount Post-IPO - Grab Valuation

investors
Hana Financial Group , GGV Capital
Feb, 2021 Amount Post-IPO - Grab Valuation

investors
Signite Partners

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. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.

All
Venture Fund
Investor Description Founded Year Domain Location
Intel Capital
Investment in technology startups focusing on compute, AI, and related innovations.
Founded Year Domain Location
Greycroft
Multiple sectors are targeted for venture capital investments by Greycroft.
Founded Year Domain Location
Boku
Provider of a global mobile payment network
Founded Year Domain Location
Investor Description Founded Year Domain Location
Amitabh Bachchan family office
Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
Founded Year Domain Location
Signite Partners
Startup ecosystems are ignited through strategic investments by Signite Partners.
Founded Year Domain Location
Sixteenth Street Capital
Venture capital is directed toward companies in multiple sectors.
Founded Year Domain Location
GGV Capital
Venture capital is invested in cybersecurity, fintech, and AI startups.
Founded Year Domain Location

Investments & Acquisitions by Fortumo

Investments
Company Name Description Domain Location Founded Year Amount
Bento Cloud
Bionic investment advisor platform
2016
48East
Fine Asian gourmet food is offered by an internet-first restaurant.
2016
GrabKios by Kudo
Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
2014
48East
Fine Asian gourmet food is offered by an internet-first restaurant.
2016

Financial Statements - Fortumo

Tata Steel revenue growth over time
Tata Steel profit and loss trends over time
Date Amount Transaction Name Valuation Lead Investors Investors
Jul, 2021 Amount Post-IPO - Grab Valuation

investors
Emtek
Feb, 2021 Amount Post-IPO - Grab Valuation

investors
Signite Partners
Jan, 2021 Amount Post-IPO - Grab Valuation

investors
Hana Financial Group , GGV Capital
Feb, 2021 Amount Post-IPO - Grab Valuation

investors
Signite Partners

Fortumo Comparisons

Employees
+
Add Comparison
Available on Premium

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. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.

Company Name Domain Founded year HQ Location Description
Boku
domain founded_year HQ Location
Provider of a global mobile payment network
Paytailor
domain founded_year HQ Location
Mobile payments are enabled via carrier billing for merchants.
Company Name Domain Founded year HQ Location Description
inDrive
domain founded_year HQ Location
Multiple services are booked via an app-based platform.
Bolt
domain founded_year HQ Location
On-demand services are booked through an app-based platform.
Gojek
domain founded_year HQ Location
App based platform offering on demand delivery and ride-hailing services
Dunzo
domain founded_year HQ Location
Operates an on-demand hyperlocal delivery app for food and groceries.

Latest news on Fortumo

Frequently Asked Questions about Fortumo

When was Fortumo founded?

Fortumo was founded in 2007 and raised its 1st funding round 5 years after it was founded.

Where is Fortumo located?

Fortumo is headquartered in Tartu, Estonia.

Is Fortumo a funded company?

Fortumo is a funded company, having raised a total of $10M across 1 funding round to date. The company's 1st funding round was a Series A of $10M, raised on Jun 01, 2012.

What is the annual revenue of Fortumo?

Annual revenue of Fortumo is $10.14K as on Mar 31, 2023.

What does Fortumo do?

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.

Who are the top competitors of Fortumo?

Fortumo's top competitors include Boku and Paytailor.

What products or services does Fortumo offer?

Fortumo offers Boku Payments, Subscription Bundling, and Mobile Wallet Network.

Who are Fortumo's investors?

Fortumo has 3 investors. Key investors include Boku, Intel Capital, and Greycroft.

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