BlingNation raises another $20M

http://venturebeat.com/2009/10/30/bling-nation-gets-another-20m-funding-for-its-pay-by-cellphone-system/

In the US, most mobile money start ups are far from establishing momentum. As a matter of coincidence I just receive notice today that Obopay and Citi  that they are terminating the “pilot” (As there were only 2000 users I can see why). BlingNation is an exception to this rule.. I really like this company and their CEOs, as I said in my blog last month… John Reed does not get involved in much since Citi. These guys have the vision, team, board, value prop … and now CAPITAL to run a long way.

Bling’s $33M in invested capital may be all they need to turn the corner. They currently have 10 community bank  pilots going very well, and are ramping up regional teams to lead sales, marketing and service  additional “on us” communities. Its great to see an experienced team with a solid BOD AND a solid business plan. I’m looking forward to the marketing promotions. I would also love to see some innovative partnerships which banks have been loathe to tackle.. perhaps PayPal integration….

http://tomnoyes.wordpress.com/2009/09/24/blingnation-review/