Wednesday, April 17, 2024
HomeRecent ArticlesSingapore-based Oobit Raises $25M Series A Funding

Singapore-based Oobit Raises $25M Series A Funding

Oobit, a leading mobile payment app, has successfully concluded its Series A funding round, raising US $25 million to advance the adoption of cryptocurrencies as a means of payment.

Oobit, a leading mobile payment app, has successfully concluded its Series A funding round, raising US $25 million to advance the adoption of cryptocurrencies as a means of payment.

Read also – Keus Raises Rs 100 Cr in External Funding Round

The Series A funding round was led by industry leaders and garnered support from strategic investors, including the investment arm of USDT parent company Tether, CMCC Global’s Titan Fund, 468 Capital and the Co-founder of Solana, Anatoly Yakovenko.

Read also – Aarogya Tech Secures USD 1.8 Mn Seed Funding

Since 2017, it has focused on innovation and removing merchant friction, enabling merchants to accept digital assets without intricate integration. This innovative approach allows it to revolutionise new digital asset verticals and transform them into forms of payment, ranging from in-game points to Web3 wallet connections.

Read also – Singapore-based Pyxis Secures S$4.5 Mn Seed Funding

“Tether’s strategic investment in Oobit underscores our unwavering dedication to welcoming new users into the cryptocurrency ecosystem”, said Tether CEO, Paolo Ardoino. “Our support is founded on a mutual vision to drive the widespread adoption of cryptocurrencies on a global scale. Oobit, in our perspective, stands as a catalyst, breaking down barriers and facilitating frictionless transactions for crypto holders worldwide.״

Read also – PayTabs Group Partners With Saudi Arabia-based Nearpay

“Our investment in Oobit’s Series A funding round underscores our dedication to fostering innovation that bridges the realms of blockchain systems and traditional financial systems. Oobit’s ‘Tap & Pay’ technology exemplifies a pivotal step towards integrating cryptocurrencies into everyday transactions, aligning with our vision for a seamless convergence between the digital and traditional financial landscapes.”, said Martin Baumann, Co-founder and Managing Partner of CMCC Global’s Titan Fund.

Read also – Japan-based Reazon Holdings Invests in Validus Vietnam

Oobit’s Co-founder and CEO, Amram Adar added, “with the backing of industry leaders this funding round marks a pivotal moment for Oobit, propelling us forward in our mission to allow a simple way to pay with digital assets anywhere. Enabling direct payments while ensuring that users retain control over their funds, aligning with Oobit’s belief and vision for a user-centric financial future.”

Read also – Funding Wrap of the Week | Asian Startups Funding Roundup | Jan 28–Feb 2

About Oobit

Founded in 2019, Oobit is a fast-growing fintech startup that services people who are focused on gaining more freedom with their money. It provides “in-store payments with crypto” with an unbelievable “Apple Pay” experience, thanks to its cutting-edge payments technology and the magic it does behind the scenes.

Read also – Careem Food Signs MOU with UAE Restaurant Group

- Advertisement -
RELATED ARTICLES
- Advertisment -

Most Popular