The Digicel Group has gained a foothold in mobile banking with an investment in an expanding US-based money transfer service aimed at immigrants and those without bank accounts.As part of the investment announcement, the company, m-Via, has been officially rebranded as Boom Financial.Boom announced on Wednesday it had raised $17 million, from Digicel, and previous investors RRE Ventures and MATT.org.The new round of financing brings the Palo Alto, California-based company to more than $30 million in total funding to date.Digicel Group, parent of Digicel Bermuda, stretches across 31 markets, including the Caribbean, Central America and South Pacific, which are all regions Boom aims to target with its service.A Digicel Group spokeswoman told us the service would be introduced in Bermuda.“The primary markets will be high remittance markets first, for example, Mexico, Haiti, Jamaica and the Dominican Republic,” she said. “The opportunity in Bermuda will likely come later.”She said as a privately held company, Digicel Group would not disclose its exact investment.Boom has been working on a way to eliminate the need for traditional cash wire transfer services.Boom members can use their cell phones to make low-cost, bank-grade domestic and international money transfers and payments via a simple SEND text message.The members can also make purchases and withdrawals at thousands of participating Boom merchants and at over 100,000 ATMs in more than 150 countries.Currently, US customers can pick up a Boom “kit” at a local store, simply register their account by calling a number, and then load their provided prepaid card with money at participating retailers or via an ATM.The card is used for withdrawals, too.At present, the service is available only in the US but users can send funds anywhere Boom supports, like Mexico or Haiti.Boom Financial will use this investment to expand in the US, as well as Latin America, and the Caribbean.“The funding solidifies Boom’s status as the premier mobile banking brand for the unranked and immigrant population in the US, which is the largest market for originating cross-border remittances in the world,” Boom said.Commenting on the Boom-Digicel partnership, Colm Delves, CEO of Bermuda-headquartered Digicel Group commented: “Our investment in Boom Financial is a reflection of the strong value of the Boom service and the high-quality company that the team has built.“Digicel’s customers in the Caribbean and Central America receive more than $5 billion a year in cash remittances from the US. Working with the Boom Financial team, we will seed a mobile banking ecosystem in these markets that eliminates the high fees and safety issues associated with cash remittances.”Bill Barhydt, CEO of Boom Financial said: “Digicel’s extensive coverage in key Boom markets such as Haiti and Jamaica will accelerate our reach into these markets.”