Louisville, Ky.-based mobile payment provider MOBIbucks announced it raised $5 million in Series A funding. Funding was led by venture capital firm Acadia Woods Partners. In the announcement of the funding, MOBIbucks said it will use the investment to fuel its worldwide growth and customer support.

"MOBIbucks is clearly poised to capitalize on what has become a massive move to mobile payments and mobile marketing," said Jeff Samberg, managing director, Acadia Woods Partners. 

MOBIbucks’ mobile payment solution allows consumers to use their mobile phone numbers to pay for goods without requiring cash, credit cards or even the presence of the mobile phone. MOBIbucks also provides merchants with a mobile marketing and rewards solutions.

"One of the most exciting developments right now is in mobile marketing. With mobile marketing gaining significant traction, we see our founding vision of a digital economy becoming real in businesses today," said Tom Recktenwald, president of MOBIbucks. "Our technology provides any easy bridge from mobile marketing to the mobile payment solutions to come."