(Corrects currency in paragraph 5 to U.S. dollar from British
Nov 29 British mobile banking technology company
Monitise Plc said it was in discussions with
institutional and strategic investors to raise up to 100 million
pounds ($159.8 million).
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
at least $110 million 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.
($1 = 0.6257 British pounds)
(Reporting By Shilpa Hinduja in Bangalore; Editing by Maju