Bango is raising the funds to increase its investment resources and specifically intends to strengthen its presence in the United States, particularly on the West Coast, where an increasing number of its strategic partners are based.
Bango enables businesses of all sizes to collect payment for apps, music, games and other services sold to internet connected mobile phone users. It is able to charge payments to mobile phone bills or use other billing methods such as credit cards based on intelligence about the consumer. Bango also provides an analytics service that provides accurate information about visitors and the effectiveness of marketing activities for mobile web sites.
Stephen Hamilton, the corporate finance partner who led the Mills & Reeve team, commented: "The markets are fairly turbulent at the moment given the current state of the Eurozone and the fact that Bango was able to launch its fundraising at such a time demonstrates the strength of its business and investor appetite. Mills & Reeve was delighted to have been able to help Bango through this fundraising process."
Ray Anderson, chief executive of Bango said: "We are very pleased to have launched this fundraising at what is an exciting time for Bango. Stephen and the team at Mills & Reeve gave us great support throughout the process and worked closely with us to ensure a successful outcome."
The fundraising remains subject to the approval of Bango's shareholders, which is expected to be obtained on or around 8 June.
The Mills & Reeve team was led by corporate partner Stephen Hamilton with assistance from corporate lawyers Toby Smith and Jonathan Greenwood and corporate tax partner Christopher Townsend.
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Stephen Hamilton, Partner, Mills & Reeve
Tel: 01223 222 349
stephen.hamilton@mills-reeve.com
Rob Neal, Marketing Communications Manager
Tel: 01223 222 295
rob.neal@mills-reeve.com
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