Sunday, July 3, 2022
Sunday, July 3, 2022
Home Startups Nigerian crypto startup Nestcoin secures $6.45m pre-seed funding round for expansion.

Nigerian crypto startup Nestcoin secures $6.45m pre-seed funding round for expansion.

by Weddy Thuranira
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Nestcoin, a Nigerian company that builds, operates, and invests in web3 applications, has raised US$6.45 million in pre-seed funding to enable it extend its global operations and invest in more products to help individuals in frontier markets accept crypto and gain financial freedom.

Distributed Global, Alter Global, Serena Ventures, Alameda Research, A&T Capital, MSA Capital, 4DX Ventures, Raba Capital, Goat.vc, Social Capital, Old Fashion Research, CMT Digital, Electric Capital, Social Capital, CoinFund, gumi Cryptos Capital, and DeFi Alliance are among the investors who contributed to the round.

Nestcoin was co-founded by Yele Bademosi and Taiwo Orilogbon, who previously worked at Microtraction, Binance, and Bundle. Nestcoin wants to democratize access to the economic prospects offered by crypto and web3, making it simple and accessible to common people.

Breach, the company’s media arm created to improve crypto education globally, and Metaverse Magna (MVM), a crypto gaming guild that enables gamers earn up to $1,000 per month, were also launched last year. Nestcoin also has a number of other products in the pipeline, all of which are intended to provide compelling use cases for crypto.

“We are excited that our investors are backing this ambitious plan to create a future where billions of people in frontier markets have access to the opportunities that crypto brings. With this financing, we will continue to grow our diverse team, which already spans nine countries, expand our product offerings, and invest in more ventures aligned with our vision” Bademosi said.

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