Intel Capital, NASDAQ-listed Intel’s global investment organization together with the venture capital fund Greycroft invested in Fortumo OÜ, an Estonian based mobile payments provider operating in 80+ countries and integrating with over 300 carriers. The exact value of the deal is confidential. The investment would strengthen Fortumo’s already strong market presence further in a market with an estimated global volume of USD 268 billion by 2015.
The COBALT Estonia team in this transaction included partner Martin Simovart and associate Kristjan Kotkas.
Intel Capital is Intel's global investment and M&A organization that makes equity investments in innovative technology start-ups and companies worldwide.