UK-based mobile wallet Yoyo has just closed $10m of Series A funding led by Imperial Innovations- the technology transfer affiliate of Imperial College. Other participants in the round include Taavet Hinrikus, cofounder of Transferwise, and Philip Riese, the former President of American Express Consumer Cards.

The app has a narrow focus on university campuses. Aside from facilitating payments, the platform provides deals to consumers and data to retailers.

The round will give the company a 24-month runway as they plan to expand internationally, including to 5 US colleges.