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$18m extra investment for Playspan

Fri 20 Aug 2010 8:16am GMT / 4:16am EDT / 1:16am PDT
BusinessOnline

Vodafone Ventures and Softbank contribute to Series C funding for virtual goods outfit

Virtual goods provider Playspan has attracted $18 million in Series C funding, bringing its total pot to some $42 million.

Contributing to the latest cash injection are Vodafone Ventures, Softbank Bodhi Fund, Menlo Ventures, STIC and Novel TMT Ventures. The latter three have invested in Playspan previously.

Playspan provides a clutch of monetisation technology for third-party games, such as Ultimate GameCard, the Playspan Marketplace and the UltimatePay microtransaction system.

"PlaySpan has emerged as the clear industry leader in this fast-growing space and has built a full stack platform that is proven with millions of consumers and thousands of merchants worldwide," said Matthew Fix, Principal, Vodafone Ventures.

"We’re thrilled to be able to support their ongoing success with both partners and end-users as they realize their full vision of a universal micro-payments solution."

Playspan's systems have been licensed by over 1000 game companies – most recently Sanrio Digital for its Hello Kitty MMO.

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