(Reuters) - British mobile banking technology company Monitise Plc said it was in discussions with institutional and strategic investors to raise up to 100 million pounds.
The company said the proceeds would be used to fund new mobile banking and commerce opportunities for financial institutions and payment companies.
“Our business is seeing enormous demand for Mobile Money services,” said Chief Executive Alastair Lukies.
More than 18 million customers have now registered to Monitise’s mobile money services, compared with 5.5 million in December 2011, it said.
The company also said it was on track to report revenue of 110 million pounds for the year ending June 30.
Shares of the company were down 5 percent at 31.78 pence at 1041 GMT on the London Stock Exchange.
Reporting By Shilpa Hinduja in Bangalore; Editing by Maju Samuel