Mi-Pay Ltd. is a British mobile company that operates as a payment service for wireless carriers and banks. The company raised £3 million ($4.6 million) from Octopus Ventures Ltd. and Albion Ventures LLP as the company is preparing to launch a new service. “With their help, we can develop the many significant opportunities in this dynamic market while continuing to deliver our award winning market innovation,” stated Mi-Pay CEO Norman Frankel. [FinExtra]