San Francisco-based cryptocurrency startup MobileCoin has raked in $66m in a Series B financing round to further develop its payment technology.
The latest round values the company at $1.066bn, taking its total capital raised so far to $107m.
Go deeper with GlobalData
The round was joined by Berggruen Holdings, Alameda Research, Coinbase Ventures, General Catalyst, BlockTower Capital, Marc Benioff’s TIME Ventures, and Vy Capital.
Additional participants in the fundraising include Suzy Ryoo, Tunde Balogun, Troy Carter & J. Erving, Rodney Jerkins, Brent Faiyaz, Jayne Andrew & Ty Baisden, Aglaé Ventures, DreamCrew, Jesse Robbins, James Lindenbaum, Matt Mullenweg, Gaingels, and 10X Capital.
MobileCoin plans to use the fresh capital to develop its products, including the cryptocurrency chatbot payment system MOBot and its Merchant Services buildout.
It will also support the launch of the firm’s initial stablecoin, whose value is claimed to stay constant with the US dollar.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalDataIn addition, MobileCoin intends to use the infusion to support Signal deployment.
The firm is also looking to integrate additional mobile messaging and communications applications to facilitate cryptocurrency payments between its users.
Recent fundraisings
Last week, Currenxie, a Hong Kong-based cross-border payments startup, raised $10m in a Series A funding to expand its product offering.
Earlier this month, Mexican B2B software and payments firm Yaydoo reportedly raised $20.4m in a Series A funding round.
Last month, Singapore-headquartered global B2B payments platform, Nium raised more than $200m.
With this, Nium became the first B2B payments unicorn from Southeast Asia. The series D funding round was led by US-based high-growth tech investor Riverwood Capital.
The same month, European pay and spend automation platform Soldo closed a $180m Series C funding round led by Singapore’s Temasek.
