Yoyo performs $10m trick

May 11, 2015 •

The Telefonica-backed mobile wallet developer has now raised $15m in less than a year and will use the capital to build its team as it prepares to enter the US market.

Yoyo, a UK-based mobile wallet technology developer backed by telecommunications company Telefonica, has completed a $10m series A round led by Imperial Innovations, according to Business Insider.

Imperial Innovations, the technology transfer office for Imperial College London, led the round, after leading Yoyo’s $5m seed round in May 2014, while other backers included angel investors Taavet Hinrikus, Philip Riese and Michael Tobin. The seed round also included Telefonica, Firestartr and assorted angel investors.

Yoyo has developed a QR code-based mobile…

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