July 16, 2024
PEXX, a Stablecoin Payments startup focusing on cryptocurrency and blockchain technology, recently celebrated the completion of a $4.5 million seed funding round. This substantial investment will accelerate the progress of the company’s cutting-edge stablecoin-to-fiat payment platform, poised to transform the global currency transfer landscape.
Project | Latest Raise | Latest Raise Date | Stage | Lead Investor | Category |
|---|---|---|---|---|---|
PEXX | $4.5M | July 16, 2024 | Seed Round | TNB Aura | FinTech |
TNB Aura, a prominent investor in crypto space, led the funding round. Antler, a global early-stage VC, also participated in the round, along with strategic investment from EMO Capital and other notable VC and crypto investors. This diverse group of investors reflects the strong confidence in PEXX’s vision and potential.
PEXX’s payment platform enables users to effortlessly transfer their stablecoin assets from Tether (USDT) and Circle (USDC) directly to a bank account anywhere in the world. This platform empowers individuals and businesses to effortlessly transfer value across borders, eliminating the need for intermediaries or bank accounts.
About PEXX
PEXX is a fintech startup that has developed the first Crypto-Fiat off-ramp, allowing users to send USDT directly into any bank account in minutes and in over 16 local currencies. The company’s mission is to empower financial freedom through the power of crypto as a global money transfer tool.
PEXX streamlines secure crypto-to-fiat transfers, making global transactions instant and effortless. It enables users and businesses to off-ramp directly into a bank account, whether for withdrawals or payments to friends, businesses, or suppliers. PEXX reduces costs by bypassing banking systems and leveraging blockchain technology. It provides instant transactions, allowing users to quickly convert their crypto into local currencies
Website: https://pexx.com/
About Investor
Investor: TNB Aura
TNB Aura is a venture capital firm based in Singapore that focuses on investments in Southeast Asia. The firm is sector-agnostic, meaning it invests in a variety of industries. TNB Aura uses data-driven methodologies to identify and invest in select companies that are primed for the future and ready to change their categories.
The firm believes in making bigger bets on fewer investments, which allows for impact that pushes boundaries. It looks for founders who want to be part of a new era of future-defining growth in Southeast Asia. They utilize pattern recognition and deep local expertise to uncover winning business models tailored for the region.
Location: Singapore, Singapore
Website: https://tnbaura.vc/
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