Mozido, a Austin, Texas-based provider of white-label mobile-payment systems, has named veteran technology executive Todd Bradley its new CEO. Bradley, who has held senior-management positions at smartphone pioneer Palm, the printing unit of Hewlett-Packard, and software maker Tibco, will oversee global expansion at the well-funded company, which is nine years old.
Mozido provides payment platforms and loyalty programs to cell-phone carriers, including Deutsche Telekom. It also powers the payments and rewards apps for retailers like Dunkin’ Donuts.
According to Bradley, Mozido has raised more than $275 million in financing and is worth more than $1 billion. He said the company is on the verge of profitability and already generates cash flow to fund its development. He said Mozido will raise additional funds soon as it seeks to increase the number of countries where it operates. Already, Mozido has operations in China, India, Germany, and South Korea, among other countries.
Michael Liberty, Mozido’s founder, holds patents for early mobile wallets, a field that is crowded with offerings from the likes of Apple, Google, and Samsung.