Nigerian web3 startup company Nestcoin, has announced the raise of $1.9 million strategic round to drive the growth of its onboard wallet, to provide solutions for future financing.
The investment round was led by Hashed Emergent, with participation from other investors which include, Adverse, Base Ecosystem Fund, Alter Global, Magic Fund, 4DX Ventures, and a few angel investors.
Speaking on the funds raised, Nestcoin Co-Founder Yele Bademosi said,
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“We want our members to be involved in creating the product they want, so they can create the future they envision. We consider what we have built to be the foundation and invite our users to join our community to build the ideal financial product. Essentially, we are giving you the power to ‘Be Your Own Bank.
“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”.
Nestcoin’s successful strategic funding round, backed by prominent investors and their unwavering commitment to building Onboard Wallet, highlights their dedication to democratizing financial access.
As the company prepares to launch Onboard Virtual Cards, it is poised to further simplify cryptocurrency transactions, bridging the gap between traditional and digital finance. With strong industry support and a user-centric approach, Nestcoin is paving the way for a more inclusive and equitable financial landscape.
At Nestcoin, the startup recognizes the limitations of traditional finance in providing solutions for the future. This capital will allow the company to focus its efforts on building Onboard Wallet, a borderless digital money app for anyone anywhere.
The company said it plans to launch “Onboard Virtual Cards, a service that will allow Onboard users to spend their crypto as easily as cash, making both online and in-store payments possible across more than 160 countries.
Onboard currently has over 10,000 users, according to Nestcoin, but with the ongoing crypto winter, Onboard needs users to see crypto beyond speculation; a dilemma facing the entire crypto ecosystem.
As the company prepares to launch Onboard Virtual Cards, it is poised to further simplify cryptocurrency transactions, bridging the gap between traditional and digital finance. With strong industry support and a user-centric approach, Nestcoin is paving the way for a more inclusive and equitable financial landscape.
Nestcoin’s strategic investment is coming amidst a period when crypto/Web3 startups are reeling from a severe crypto winter that has seen several crypto companies shut down. However, Nestcoin seems to have weathered the storm as it has been able to pull off this investment despite the unfriendly Web3/ Crypto climate.
Founded in 2021, Nestcoin is committed to creating equal access to economic opportunities by building products to make modern finance borderless, trusted, and delightful. The startup wants to create wealth with crypto beyond trading.