Abu Dhabi-based fintech, Pyypl, introduced on Nov. 7 that it had raised $20 million in Sequence B funding and this introduced the entire of funds raised to just about $40 million. Pyypl has stated it plans to make use of the lately raised funds to develop and add new options to its proprietary expertise. The corporate additional needs to help “800 million financially underserved smartphone customers” from the area by digital and bodily pay as you go playing cards.
Pyypl’s Monetary Inclusion Journey
Pyypl, an Abu Dhabi-based fintech, lately revealed it had raised $20 million in a Sequence B spherical, to fund its deliberate growth into the Center East and Africa. United Arab Emirates-based enterprise capital firm International Ventures is among the ten new and current buyers that participated within the spherical.
The most recent capital elevate, which brings the entire raised to date to $40 million, is ready to fund the event and addition of recent options to Pyypl’s proprietary expertise.
Along with seeing the variety of its customers quadruple since its earlier capital elevate, Pyypl — an Abu Dhabi International Market’s Monetary Companies Regulatory Authority licensed blockchain-based platform — has reportedly established relationships with Binance, Ripple, and Visa. Commenting on his agency’s newest fintech fundraise, Antti Arponen, the co-founder and CEO at Pyypl, stated:
We welcome our new buyers and respect the additional funding from our current shareholders in assist of our monetary inclusion journey.
The fintech added that its goal now could be to help “800 million financially underserved smartphone customers” from the area by digital and bodily pay as you go playing cards in addition to “user-to-user transfers.”

In the meantime, Arponen is quoted in one other report stating that his agency is aiming to serve a billion customers from the area. Oman and international locations within the Gulf Cooperation Council (GCC) are among the many international locations that Pyypl is focusing on.

Tags on this story

Antti Arponen, Binance, monetary inclusion, Fintech, International Ventures, Gulf Cooperation Council (GCC), Pyypl, Ripple, Sequence B, smartphones, VISA
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Terence Zimwara

Terence Zimwara is a Zimbabwe award-winning journalist, writer and author. He has written extensively concerning the financial troubles of some African international locations in addition to how digital currencies can present Africans with an escape route.

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