UK mobile money firm Monitise bounced back from the potential loss of Visa as a shareholder by unveiling MasterCard, Telefonica and Santander as new backers to support the rollout of its global platform.

The UK firm also announced a further linkup with IBM but that is less surprising since the two companies unveiled a global alliance this summer.

Monitise recently suffered a blow when Visa said it was mulling the disposal of its remaining 5.5 per cent stake in the UK firm.

The UK firm’s shares lurched downwards as investors digested the news alongside some disappointing financials.

But now it has unveiled a £49 million investment by the three new backers that should accelerate the rollout and deployment of its technology.

For instance, Telefonica will roll out mobile money services based on the UK firm’s platform in two Latin American countries in 2015, including Brazil.

The firm also reiterated its guidance for the current financial year and longer term.

And IBM is to deploy its cognitive computing engine called Watson in support of its platform.