Boku, a London based technology company that specializes in identity verification has decided to jump ship and invest in another profitable venture. Recently,selling it’s ID arm to cloud management platform Twilio, they are seeking to make a mark as a contender in the mobile payment arena. The San Francisco mobile communications company is known for producing software that can aid in sending text messages via its web service API. Twilio has revenues of nearly $2 billion and owns several subsidiaries including SendGrid and ZipWhip.
According to Boku CEO, John Prideaux, the sale signifies” an important milestone for the business”. Originally launched fourteen years ago, they are well known as a major player in the fintech and identity security industries. The identity brand Boku Identity was formerly known as Danal when it was acquired three years ago and features GDPR technology. Meanwhile, the primary focus is now the flagship platform Mobile First (M1ST), which uses API integration in processing payments for merchants, as well as payers using mobile wallets. Touted as one of the largest mobile payments networks worldwide, their user base includes tech giants Apple and Paypal. In 2020 alone, they assisted in more than $8 billion dollars in transactions.
