O’Brien invests €14m in Boom

Denis O’Brien’s Caribbean-based mobile phone company Digicel has invested $17m (€14m) in California-based Boom Financial.

The company develops technology for the mobile banking and money transfer sector, and enables cross-border remittances by immigrants in the US market.

It plans to use the Digicel investment to increase its sales channels and distribution in the US, Latin America, and the Caribbean. Boom Financial had raised $30m in funding prior to the Digicel investment.