Oobit, a Singapore-based provider of a mobile payment app, raised US$25M in Series A funding.
The round was led by Tether, CMCC Global’s Titan Fund, 468 Capital and the Co-founder of Solana, Anatoly Yakovenko.
The company intends to use the funds to expand operations and its business reach, as well as its development efforts. Oobit plans to expand into regions such as Latin America (LATAM), United Arab Emirates (UAE), Asia-Pacific (APAC), Canada, and Australia, beyond its primary markets in the European Union (EU) and United Kingdom (UK).
Led by CEO Amram Adar, Oobit provides a gateway to spending cryptocurrencies in traditional commerce settings. Its solution enables consumers to pay with their crypto and merchants receive fiat money, exactly like a typical credit card transaction. While consumers and merchants experience a simple Tap & Pay solution, numerous critical processes and transactions occur behind the scenes in near-real-time, allowing for complete seamlessness. This solution powers applications across new digital asset verticals, ranging from in-game points to Web3 wallet connections.
Using Oobit, crypto holders can Tap & Pay at over 100 millions retailers across the globe, anywhere Visa and Mastercard are accepted, similar to using Apple Pay®.
FinSMEs
06/02/2024