Papaya Picks Up $50M For Mobile Payments

Los Angeles-based Papaya, a fintech startup developing a mobile bill payment application, says it has raised $50M in a Series B funding. The funding was led by Bessemer Venture Partners, and also included Sequoia Capital, Acrew Capital, 01 Advisors, Mucker Capital, Fika Ventures, F-Prime, and Sound Ventures. Papaya is led by co-founder and CEO Patrick Kann, who the company said has previously served at such companies as World Bank and IdeaLab. The company’s co-founder and Chief technology Officer is Jason Meltzer, who previously was at iRobot.