Singapore, 28th November 2023 – Having facilitated over $3 million in annualized Gross Transaction Volume (GTV) within mere months of its launch, Wind.App, proudly announces a successful $3.8 million pre-seed funding round.
The round was co-led by Global Founders Capital and Spartan Group, and saw participation from prominent investors, including Saison Capital, Alumni Ventures and Tiny VC.
Hassan Ahmed, Country Director at Coinbase Singapore, and one of Wind’s early backers, expressed his confidence in Wind’s mission, saying, “Wind has an innovative approach to bridge the traditional finance world and decentralized finance. This funding round is a testament to the team’s dedication, their progress, and the potential of their solutions.”
Wind is unique in the remittance space – being a self-custodial smart-contract wallet. Unlike other DeFi wallets, Wind simplifies the complexities of Web3 into an easy-to-use interface that can be used by anyone. Leveraging blockchain technology, Wind provides instant settlement times, decreased transaction fees, and offers users access to yields exceeding 5%.
A unique advantage of being a self-custody wallet is that anyone, anywhere in the world can open an account, without KYC, and start receiving funds. Making the product global from day one, and perfect for underbanked countries.
Additionally, Wind has constructed its own underlying infrastructure to further minimize costs. They’ve developed their own on/off ramps to make their price points competitive with existing services. Their enterprise APIs, designed for collection and disbursement, are also available for other businesses to utilize.
Wind was founded by a team of seasoned venture builders in the consumer apps and fintech space. Hussain M Elius and Ahmed Fahad are co-founders of the largest consumer tech platform in Bangladesh and Nepal – Pathao; and are joined by seasoned blockchain engineer Arman Bhuiyan and business development expert Simo Figuigui.
CEO Hussain Elius shared his enthusiasm for the company’s future, stating, “This funding marks a significant milestone for Wind. We are excited to continue our mission of simplifying cross-border payments and expanding our global reach.”
The company’s vision extends beyond borders, aiming to establish a global remittance and payments network on Web3. This initial focus aims to strengthen the corridor between the United States and Southeast Asia.
For more details, visit our website at https://wind.app/
About Wind
Wind is a fintech startup revolutionizing cross-border payments and on/off-ramp solutions. With a vision to establish a global remittance and payments network on Web3, Wind facilitates efficient and cost-effective cross-border transactions for freelancers, remote teams, and businesses worldwide.
Disclaimer: This press release is for informational purposes only and does not constitute an offer or solicitation to buy or sell any securities or tokens. Any such offering will be made in accordance with applicable laws and regulations.
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