Friday
July 22
2022

XLD Finance Raises $13 Million Pre-Series A Funding Led by Dragonfly Capital and Infinity Ventures Crypto

XLD Finance, a borderless decentralised ecosystem that provides financial tools to emerging economies, announced Wednesday that it has successfully raised $13 million during the pre-Series A funding round led by Dragonfly Capital and Infinity Ventures Crypto (IVC).

The round saw participation from Advance AI, Circle, Digital Currency Group (DCG), IDG Capital, Insignia Venture Partners, Integra Partners, Morningstar Ventures, Openspace Ventures, Sfermion, Shima Capital, Transcend Fund, TrustToken (TUSD), UOB Venture Management, Woo Network, Yield Guild Games (YGG), YOLO Ventures, Emfarsis and twenty other investors, XLD Finance said in a statement.

The funds will be used to enable XLD Finance to scale its product and engineering teams to accelerate its API and product development efforts, and to expand its network of licensed partner financial institutions, as well as its merchant and biller network.

Photo courtesy of Pictures of Money.

Source: TechNode Global (link opens in a new window)

Categories
Finance, Technology
Tags
cryptocurrency, emerging markets, financial inclusion, funding, technology