Fortumo's products allowed digital merchants to acquire new users through telco bundle partnerships and collect payments using carrier billing and mobile wallets.

The company connected merchants to a network of more than 300 telcos and digital wallets in Asia, Europe, Latin America, the Middle East and Africa.

[2] Fortumo provided digital content merchants with the following products for user growth and monetization: Merchants using Fortumo included app stores (Google Play), streaming services (Amazon, Spotify, iflix, Sony, Deezer, Tidal), social networks (Facebook, Badoo), publishers (Aftonbladet, Legimi), gaming companies (Epic Games, EA Mobile, Kinguin), transportation service providers (EasyPark, Mobike), classified sites (OLX).

[19][20][21][22][23][24][excessive citations] In February 2013, Fortumo announced it had completed a growth round of financing with the first external shareholders – Intel Capital and Greycroft Partners – joining the company.

Fortumo co-founder Rain Rannu explained the reasons for bringing in investors: "Working with Intel Capital and Greycroft will help us to pursue additional growth opportunities, including strategic partnerships and acquisitions".

[31] In January 2019, Fortumo launched PayRead platform that enabled digital publishers (like international media group Schibsted[32]) to identify and charge consumers through their SIM card.