Transak, a web3 payments and infrastructure provider, has raised $20 million in a funding round led by CE Innovation Capital, and other investors were SBI Ven Capital, Sygnum, Azimut, Third Kind Venture Capital, UOB Venture Management, Signum Capital, Animoca Brands, Genting Ventures, Istari Ventures, No Limit Holdings, Woodstock Fund, IOSG Ventures, KX, Axelar, Tokentus, and The Lao.
The company aims to provide a decentralized payment infrastructure that is secure, fast, and affordable. The funding will be used to expand the team and develop new products. Transak’s platform is built on blockchain technology, which allows for secure and transparent transactions. The company’s goal is to create a payment infrastructure that is accessible to everyone, regardless of their location or financial status. The platform is designed to be user-friendly and easy to use, with a focus on speed and efficiency.
Transak’s CEO, Sami Start, said that the funding will help the company to expand its team and develop new products. He also said that the company is focused on building a payment infrastructure that is decentralized and accessible to everyone. The web3 ecosystem is still in its early stages, but it has the potential to revolutionize the way we interact with the internet.
Web3 is a decentralized version of the internet, where users have more control over their data and can interact with each other directly, without the need for intermediaries. Transak’s platform is a step towards this decentralized future, where payments can be made securely and efficiently, without the need for banks or other financial institutions. The platform is designed to be scalable, so it can handle a large volume of transactions, making it suitable for businesses of all sizes.