PlaySpan, a Californian company that provides digital goods, micro-transaction and global payment platforms, has arranged an $18 million investment. New investors include Vodafone Ventures and Softbank Bodhi Fund alongside the company's existing investors. This capital increases the company's total funding to approximately $42 million. PlaySpan says the new investment will be used to expand into Europe and Asia and to grow PlaySpan's global publisher and user base.
Karl Mehta, founder and CEO of PlaySpan, said "Over the last few years, PlaySpan has emerged as the undisputed global market leader in the monetization platform category, and we continue to drive new innovations in the payments and ecommerce space that has spurred new high-growth business models. 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."
PlaySpan currently provides e-commerce solutions for more than 1,000 online games, social networks and online videos. Vodafone Ventures is Vodafone's global venture fund, created ten years ago to invest in wireless and internet opportunities.