Innogest in $5.7m investment in Mobango

Innogest SGR has led a series-B financing round in mobile social network Mobango Ltd, alongside Doughty Hanson. The round is valued at $5.7m. The latter had previously invested EUR2m in the company during a series-A financing round.

Mobango will use the new funds to further accelerate product development, strengthen its service infrastructure and increase penetration in key markets. The company has around three million registered users in the UK, US, India and South Africa.

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