Cenoa, a Singapore-based borderless wallet improving access to dollar-based products in emerging markets, raised US$7m in Seed funding.
The round was led by Quiet Capital and Underscore VC with participation from Human Capital, Ulu Ventures, Acrew Capital, and Collective Spark.
The company intends to use the funds to grow operations to expand both beyond its core product and to new markets in Latin America, Africa, Southeast Asia, and Europe, and hire talent across different business functions – from product development to engineering – for its fully remote global team.
Cenoa provides a wallet to buy digital dollars and earn high yield, enabling users to to protect savings and build wealth.
Seçkin Çağlın, Founder and Co-CEO of Cenoa, said:
“Cenoa offers easy access to digital dollar-based products, 100 percent designed for the everyday user. We believe in using modern technologies such as blockchain to provide one-click access to the digital dollar ecosystem to benefit the customers that need that access most – those in emerging economies lacking stable currencies like Argentinaand Nigeria. People in these countries should be able to easily and affordably access US Dollars and beat inflation while saving, a function the traditional financial system has failed to provide.”
Emre Ertan, Founder and Co-CEO of Cenoa, added:
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Che company’s four person Founder Team consists of:
- Co-CEO Emre Ertan (former CPO & CTO of rapid delivery decacorn Getir)
- Co-CEO Seçkin Çağlın (ex-McKinsey, former Head of Cards & CMO of BBVA Garanti Payments), who developed their idea together at Stanford Business School;
- Technical Co-Founder Sırrı Perek (Facebook), and
- Technical Co-Founder Buğra Çakmak (Google).
Based in Singapore, the team is fully remote with employees in Turkey, Singapore, the UK, Italy, Germany, and Switzerland.
FinSMEs
06/02/2023