Mexico: Startup Clip Raises 1.5 million for a new Mobile Payment System

A startup named Clip has raised $1.5 million in funding to build a mobile payments system for the Spanish-speaking world, according to Venture Beat.

Adolfo Babatz, chief executive and c0-founder, told VentureBeat in an interview that" the platform will turn a mobile phone into a payment-card processing terminal for businesses and individuals in Mexico and other Spanish-speaking countries".

Clip raised the money from a group of investors that include 500 Startups, Alta Ventures, ACCION, and Karl Mehta. The latter is the founder and former chief executive of PlaySpan, a virtual goods and payment company acquired by Visa for $190 million in 2011. Mehta is now a partner at Menlo Ventures.


Editorial Staff (@portada_online)

Portada is the leading source of news and analysis on the Latin Marketing and Media space. Credibility is our biggest asset: The Portada team is very passionate about producing high-quality independent content that helps drive forward the Latin Marketing and Media space.
El equipo editorial de Portada se apasiona por elaborar contenidos de alta calidad. La credibilidad es nuestro mayor activo. La misión de Portada es ayudar a profesionales de negocios y medios a comprender y alcanzar a consumidores latinoamericanos, del mercado hispano de EE UU y España.

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