XanPool, a Hong Kong-based payments infrastructure builder that operates in over 13 countries in the Asia Pacific, raised US$27M in Series A financing.
The round was led by Valar Ventures, with participation from CMT Digital, and angel investor Taavet Hinrikus (Founder and Chairman of Wise, formerly Transferwise), as well as existing investors Gumi Cryptos and global early-stage VC Antler.
Led by Jeffery Liu, Chief Executive Officer, XanPool is an open C2C Payments and Liquidity Network network made out of individuals and businesses, whose idle capital is used to settle cross-currency, and cryptocurrency transactions. By doing this, XanPool reduces the counterparty risk and costs associated with these forms of transfers, while also allowing the individual and business liquidity providers to earn fees of up to 2% a month on their idle capital.
The company intends to use the funds to continue to expand operations and its business reach. With over 500,000 users, and over 400 business partners, XanPool is looking to consolidate its presence in the Asia Pacific region, and expand its product offerings.
FinSMEs
22/10/2021