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Danal Receives $9 Million In New Venture Funding

Friday, June 22, 2007 5:00:00 AM PDT | VentureDeal Staff

SAN JOSE, CA -- Danal, Inc., the U.S. subsidiary of South Korea-based Danal Co., Ltd., has secured new venture capital investment totaling $9.5 million.

Danal's parent says that it is the largest mobile payment service company in the world, having integrated 14 mobile carriers in South Korea, Taiwan and China.  The U.S. subsidiary has been created to expand its presence to the U.S.

Morgenthaler Ventures led the round, which included the parent company of Danal.  The company intends to use the proceeds to hire additional employees, commercialize its mobile payment system in the U.S. and expand its relationships with mobile carriers.

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