Nestcoin, a Nigerian startup that builds, operates, and invests in web3 applications, has secured US$6.45 million in pre-seed funding to enable it to extend its international footprint and invest in even more products to help individuals in frontier markets accept crypto and gain financial freedom.
Distributed Global, Alter Global, Serena Ventures, Alameda Research, A&T Capital, MSA Capital, 4DX Ventures, Raba Capital, Goat.vc, Social Capital, Old Fashion Research, CMT Digital, Electric Capital, Social Capital, CoinFund, gumi Cryptos Capital, and DeFi Alliance are among the investors who contributed to the round.
Nestcoin was co-founded by Yele Bademosi and Taiwo Orilogbon with the goal of democratizing access to the economic potential given by crypto and web3, making it simple and accessible to the general public.
“We are ecstatic that our investors are supporting this bold proposal to give billions of people in developing countries access to the benefits of cryptocurrency.” We will use this funding to expand our diversified staff, which now covers nine countries, increase our product offerings, and invest in other ventures that are aligned with our mission,” Bademosi said.
The startup launched Breach, a media arm dedicated to advancing global crypto education, and Metaverse Magna (MVM), a crypto gaming guild, last year.
Nestcoin also has a number of other products in the works, all of which are aimed at offering impactful business applications for cryptocurrency.
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