Boku gets Telef'onica funding

Total Telecom reports.

Telef'onica Digital was one of seven investors to participate in Boku's latest funding round, which raised $35 million. The move will see Telef'onica take an equity stake in Boku, but the company declined to elaborate on the funding.

According to Boku, the funding will be used to broaden the company's infrastructure and expand its operations, which includes NFC mobile payments service Boku Accounts, NFC News states.

Telef'onica plans to embark on a global partnership with Boku to expand the teleco's mobile wallet offerings.

Boku will become Telef'onica's preferred mobile payments partner, with the partnership giving Boku access to Telef'onica's global footprint of 25 markets and 300 million customers, Mobile News says.

It will provide Telef'onica with access to Boku's merchant network, expanding the number of places customers will be able to use their Telef'onica mobile wallets for purchases.