C$ cMoney, Inc., a new mobile technology company based in Houston,
Texas, announced it has received $15 million in funding from Kodiak
Capital Group, LLC of New York City. The placement of the financing
facility with Kodiak Capital was arranged by Robert Gandy, an investment
banker with Pythagoras Group in Houston. The investment is expected to
support the expansion of the company as well as the launch this summer
of C$ cMoney, an innovative mobile solution for the payment of goods and
services while totally eliminating IDENTITY and CREDIT CARD
In considering numerous investment partners, we were particularly
impressed with the Kodiak Capital team. They have become very
knowledgeable about our business model and enthusiastic about assisting
us in enhancing our growth, said Jennifer L. Pharris, President and CEO
of C$ cMoney, Inc. With this funding from Kodiak Capital, we will be
able to accelerate the development of our innovative technology, build
out our operations in Houston and support the launch of C$ cMoney.
C$ cMoneys new mobile payment platform through cell phones and text
messaging will enable consumers to send money or pay for goods and
services anywhere that cash, checks or credit cards are accepted. The
revolutionary technology will feature a significantly improved personal
security system that eliminates exposure to identity theft.
We are excited about being a partner to C$ cMoney and providing funding
to the company, said Ryan Hodson, managing director of Kodiak Capital
Group, LLC. We have been very impressed with the progress and evolution
of C$ cMoney as it has developed technology to send money and pay for
goods and services using nothing more than a cell phone.
C$ cMoney, as it prepares to launch its mobile technology, will be
located in the Houston area. The operating company will eventually
employ more than 160 employees with an additional 80 to 100 regional
marketing personnel and marketing representatives.
About C$ cMoney, Inc.
C$ cMoney, Inc. is a Houston-based company that has developed a new and
innovative way to send money and pay for goods and services using a cell
phone and the text messaging system. It can be used anywhere that cash,
checks or credit cards are accepted. C$ cMoney protects and reduces risk
of identity theft and credit cards that could be stolen from a purse or