United Arab Emirates-based venture capital company Global Ventures is one of the new and existing investors that participated in the round. venturecapital fintech
The company further wants to assist “800 million financially underserved smartphone users” from the region through virtual and physical prepaid cards.Pyypl, an Abu Dhabi-based fintech, recently revealed it had raised $20 million in a Series B round, to fund its planned expansion into the Middle East and Africa. United Arab Emirates-based venture capital company Global Ventures is one of the ten new and existing investors that participated in the round.
The latest capital raise, which brings the total raised so far to $40 million, is set to fund the development and addition of new features to Pyypl’s proprietary technology. In addition to seeing the number of its users quadruple since its previous capital raise, Pyypl — an Abu Dhabi Global Market’s Financial Services Regulatory Authority licensed blockchain-based platform — has reportedly established relationships with Binance, Ripple, and Visa.
The fintech added that its objective now is to assist “800 million financially underserved smartphone users” from the region through virtual and physical prepaid cards as well as “user-to-user transfers.” Meanwhile, Arponen is quoted in another report stating that his firm is aiming to serve a billion users from the region. Oman and countries in the Gulf Cooperation Council are among the countries that Pyypl is targeting.
Ireland Latest News, Ireland Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Middle East, Asia and Africa blockchain association launches in Abu DhabiA blockchain association focused on the Middle East, Africa, and Asia has been launched to help grow cryptocurrency ecosystems in the region with the support of crypto-friendly regulators in the UAE.
Read more »
Mexico's FEMSA to purchase financial services NetPay in B2B fintech bidMexico's FEMSA has signed an agreement to purchase financial services company NetPay as the retailer and Coke bottler expands its digital payments portfolio into business-to-business transactions, the company said on Monday.
Read more »
This Digital Bank Is Designed for the LGBTQ+ CommunityDaylight provides debit cards with your chosen name, no matter what your ID says. (From 2021)
Read more »
EV startup Arrival doesn't have enough cash to survive the next yearArrival reported cash and cash equivalents of about $330 million as of Sept. 30, and said it expects cash on hand to fund the business into the third quarter of next year.
Read more »