HQ: Palo Alto, Calif.
CEO: Bill Barhydt
New Funding: $17 million
Backers: Digicel Group, RRE Ventures, Matt.org
M-Via last year came to market with a service called Boom, with the idea of better enablement for immigrant customers who want to send money to their home countries. The company's various backers include Digicel, one of the largest telecom providers in the Caribbean and Central America, which was part of a $17 million round for M-Via, since renamed Boom Financial. Instead of traditional wire payments that charge per transfer, Boom users pay a yearly account fee of $25, then a smaller fee every time they want to make a deposit but no fees for individual wire transfers, which they can make via mobile devices.