Nestcoin, a Nigerian cryptocurrency startup, has raised a $1.9 million funding round.
A global group of investors, including Adaverse, Base Ecosystem Fund, Alter Global, CMT Digital, Magic Fund, 4DX Ventures, and participating angels, joined Hashed Emergent in leading the investment round.
Nestcoin’s co-founder and CEO Yele Bademosi described his company’s mission: “We firmly believe that access to high-quality financial services should be universally available, regardless of one’s geographical location. We are committed to achieving this goal by creating a delightful and simple-to-use self-custody digital wallet”.
The recently released Onboard Wallet is a safe self-custody wallet for handling digital assets directly without the use of intermediaries. Onboard Wallet offers a smooth user experience, a seedless wallet, and a simple way to send money without using a centralized exchange directly to a bank account.
Nestcoin revealed a few months ago that it was shifting its strategic focus from its prior methodology of concurrently incubating many projects to Onboard Wallet development. Onboard Wallet has been committed to facilitating simple cryptocurrency transactions ever since its initial introduction in April. The launch of Onboard Virtual Cards, a service that enables Onboard customers to spend their cryptocurrency as easily as cash and enables online and in-store purchases across more than 160 countries, marks the next significant milestone for the company.
In addition to its constant commitment to developing Onboard Wallet, Nestcoin’s successful strategic fundraising round demonstrates its commitment to democratizing financial access.
Through Onboard, Nestcoin will be able to further its mission to promote fair access to economic opportunities and strengthen its balance sheet thanks to this funding.
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Itana, a Nigerian startup, has secured $2 million in pre-seed funding
Anchor, a Nigerian embedded finance platform, secures $2.4M in seed funding
Moove, a Nigerian mobility fintech startup, has announced a new funding round of $76 million
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