Financial technology startup Obopay, bought over by two former Infosys employees in a fire sale four years ago, has a new lease of life. Having received multimillion-dollar contracts, its new avatar is seeking a strategic investor to infuse $25 million (Rs 163 crore) in the business for research and development.

Obopay just bagged a $15 million order from Banque Atlantique in Africa, after proving deployment of Airtel Money in Uganda and Kenya. Obopay counted Elephant Capital, Alliance Bernstein, Essar Telecom USA, ONSET Ventures, Qualcomm, Redpoint Ventures, Richmond Management, Wolfensohn & Co and Nokia among its investors before nearly all investments amounting to $140 million were written off and the then Silicon Valley-based company was put up for sale in 2013.

http://economictimes.indiatimes.com/small-biz/money/obopay-seeks-25-million-in-strategic-investment/articleshow/61044612.cms

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