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Klickl raises USD 25 million in Series A funding round

Thursday 12 December 2024 13:24 CET | News

Klickl, a Web3 Open Finance platform, has raised USD 25 million in a Series A funding round. This brings the company’s valuation to USD 125 million.

 

This funding supports Klickl’s goal to expand its Web3 services, focusing on emerging markets across MENA and beyond and becoming one of the region’s first fully licenced Web3 banking services, offering crypto custody and brokerage solutions.

Klickl raises USD 25 million in Series A funding

 

Initiatives deriving from the funding round

Key initiatives stemming from this founding round include the launch of Klickl Labs in collaboration with Summer Ventures and Klickl Foundation in Q4 2024.

Klickl Labs will oversee joint ventures leveraging its Web3 banking services, virtual asset servicing, and crypto payments/brokerage platform. This will target high-growth markets in the Middle East and Africa and foster solutions in cross-border remittance and digital payment infrastructure for high-impact ventures.

Klickl Foundation will direct investments into the Klickl Web3 ecosystem, setting new benchmarks for the PayFi industry.

The round was co-led by Web3 investors Web3Port Foundation and Aptos Labs, joined by other companies, including Summer Ventures, Heritage Horizon Capital, V2 Capital, Alpha Square Group, Heng Feng Group, Trend Investment, and Bond Group.

Web3Port Foundation serves as a limited partner for Klickl’s Web3 fund and leverages its expertise in tokenomics to drive mass adoption of Web3 technologies.

Latest news about Klickl

In August 2024, Klickl partnered with Sumsub to ensure compliance with cryptocurrency regulations. Sumsub incorporated thorough KYC, KYB, and transaction monitoring solutions into Klickl, improving efficiency, optimising costs, upgrading authenticity and accuracy, and implementing better fraud prevention methods.

Klickl, as a Web3 Open Finance platform, provides services such as crypto trading and banking to ensure a smooth transition into Web3, aiming to create a global stablecoin ecosystem that connects digital and traditional finance. This is why ensuring compliance with regulations is important, especially with digital asset regulations becoming stricter. By teaming up with Sumsub, Klickl can guarantee compliance and ensure the security of user assets and data.


Source: Link


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Keywords: investment, Web 3.0, cryptocurrency, funding, Open Finance
Categories: Banking & Fintech
Companies: Klickl
Countries: Africa, Middle East
This article is part of category

Banking & Fintech

Klickl

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