Payfone Raises $11 Million From BlackBerry Fund, Ex-Apple Exec

Payfone is going public today with its plans for developing a mobile alternative to Visa and MasterCard, fueled by an infusion of $11 million in venture capital from the BlackBerry Partners Fund and former Apple (NSDQ: AAPL) executive Bob Borchers of Opus Capital. Also participating was RRE Ventures, the company’s first round investor.

Before this, the mobile payments company was operating so under the radar, I was able to stay in New York for a week in a hotel right next door and never knew they were there. “We wanted to prove we had something unique to offer the industry, and I think we do now,” said Rodger Desai, Payfone