eBIZ.mobility, a Tel Aviv based start up has raised $1 million from the Zitelman Group, a private investment banking firm based in Rockville, MD.
eBIZ.mobility developed a Federated Payment System, which provides secure processing of online digital payment without a credit card or risk of identity theft.
Tailored for Telcos, EBiz users can charge micropayments to their existin phone accounts, ISPs or prepaid cards. The credits can be used to purchase downloads like video clips and ring tones.
According to Jeremy Kagan, founder and CEO of eBIZ.mobility, a recent pilot program placed at the point of sale has created 50% conversion rates among consumers.
He told the Washington Business Journal:
“This shows consumers want a more secure payment alternative for digital content downloads and we can now expand these programs with more strategic partners and reach more consumers and markets”
The Zitelman Group previously invested $600,000 in Flexicath, a medical devices firm based in Israel.
I'm a former general partner at google ventures, head of Google for Entrepreneurs in Europe and founding head of Campus London, Google's first physical hub for startups.
I'm also the founder of Techbikers, a non-profit bringing together the startup ecosystem on cycling challenges in support of Room to Read. Since inception in 2012 we've built 11 schools and 50 libraries in the developing world.
