On Tuesday, fintech and payment processor Zebedee announced that the company has raised $35 million from Kingsway Capital, Raine Group and video game giant Square Enix. Zebedy elaborated that the Series B funding will help the startup “expand company-wide to meet the needs of the biggest names in the gaming industry.”
Game-focused Fintech Zebedee Raises $35M
- Hoboken Company, New Jersey Zebedee has raised $35 million from investors, according to a company announcement posted to Bitcoin.com News on Tuesday. Zebedee specializes in fintech concepts and the integration of bitcoin into games.
- For example, a bitcoin mining game for Android and iOS called “Bitcoin Miner” allows users to mine bitcoins (BTC) rewards that are processed by Zebedee. Additionally, in September 2021, the fintech company raised $11.5 million in a funding round led by Lakestar.
- Zebedee’s latest funding was led by Kingsway Capital, but also involved Raine Group, Initial Capital, Lakestar, and Square Enix. Recently, video game giant Square Enix has turned to the concepts of non-fungible tokens (NFTs) and blockchain solutions.
- Zebedee said Tuesday that it has created a platform that allows any developer to add a programmable money feature to games. The platform can make it so that “anything that happens in the game can initiate a payment that is sent instantly and at almost no cost.”
- For example, “when a player shoots someone in a competitive CS:GO match, they can take a small amount of money (like a fraction of a cent) from them in real time within the match itself,” Zebedy explained. The Fintech firm said it offers API-based tools for software developers and an app for gamers.
- The gaming payment platform created by Zebedee uses the Lightning Network as part of the project’s payment infrastructure. “We are pleased to be able to confidently scale our team and grow our business even as macro conditions become increasingly uncertain,” said Simon Cowell, CEO of Zebedee.
- Zebedy said that since the company’s initial $11.5 million fundraising last September, the company’s user base has increased more than 10-fold. Zebedee clarified that it is a gaming-focused fintech company, and Bitcoin is “simply a payment system that enables flexible, programmable transfers of any amount between any game, application, or user.”
What do you think about Zebedee raising $35 million Series B led by Kingsway Capital and with contributors like Square Enix? Let us know what you think about it in the comments section below.
Denial of responsibilityA: This article is for informational purposes only. This is not a direct offer or solicitation to buy or sell, or a recommendation or endorsement of any products, services or companies. Bitcoin.com does not provide investment, tax, legal or accounting advice. Neither the company nor the author is directly or indirectly liable for any damage or loss caused or alleged to be caused by the use of or reliance on any content, goods or services mentioned in this article.
Credit : news.bitcoin.com