OREANDA-NEWS. February 26, 2013. US technology giant Intel and venture capital company Greycroft has bought shares of international mobile payment provider Fortumo, which is based in Estonia.

“We have been impressed with Fortumo’s strong product focus and ability to execute,” said Dana Settle, a partner with Greycroft, in a statement. “What sets Fortumo apart from their competition is their focus on geographies where mobile payments will have the biggest impact and growth over the next few years,” reported TechCrunch.

According to the company, the inclusion of the new shareholders will help strengthen its position in emerging markets.