Direct carrier mobile phone payments group Boku Inc(LON:Boku) is coming to London, with an AIM market listing expected later this month.
Boku’s technology allows mobile phone users to charge purchases to their phone bill or pre-pay account. This model may sound familiar as AIM-listed Bango plc provides a similar function.
Transactions top US$2bn
Boku boasts that it is the “world's leading independent direct carrier billing company” and its intention to list statement comes with some substantial numbers.
Boku processed just under US$1bn of transactions in the year to June 30 and it said the annualised rate now exceeds US$2bn. The company highlighted that it counts Apple, Google, Facebook, Microsoft and Spotify among its clients.
Revenue for the six months to June 30 amounted to US$10.2mln, representing a 21% rise from the comparative period the year before.
For context, in September Bango reported revenue (derived from end user spending) of £1.65mln and it reported that its annualised end user spending amounted to around £400mln.
Access to new funds
Boku said it the London listing is part of a simplification of its capital structure and provides access to new sources of funds.
Jon Prideaux, Boku chief executive, said: “I am delighted to announce the proposed admission to AIM of Boku, which will position the company for the next phase of its development.
"In particular, admission to AIM will provide an appropriate structure for the long-term development of the business and enable us to invest in our new product development capabilities to the benefit of our customers.”
The amount of new capital to be raised has yet to be confirmed.