Happy to let you know that we’ve passed $35 million in total funding to date with the close of our our Series B round at $16 million. We’ve added some great investors including Foxconn’s venture subsidiary HCM International, Silver8 Capital, and Ignia. These three new investors are joined by existing Abra investors Arbor Ventures, American Express Ventures, Jungle Ventures, Lehrer Hippeau and RRE.
I believe we are in phase one of a new era of digital currency based banking. This new era will democratize access to capital, access to basic financial services and ultimately access to capitalism. We are helping bring this new era to life and we couldn’t be more excited that our investors share our vision for the future and we look forward to partnering with them to make this vision a reality.
Speaking recently with Jack Lee, Founding Managing Partner, HCM he said, “We believe that Abra represents the future of digital payments and banking. Abra’s vision for a decentralized network of people, merchants and consumer devices all connected via Internet-based open blockchain technology can usher in a new era of financial inclusion and access to capital for billion of consumers.”
If you will be at Money2020, please join my session today where I’ll dive into the pillars of Abra’s vision for the future of bitcoin as the basis for digital banking, namely: payments, global investing, and asset finance. I’ll show how consumer asset finance will be reinvented at a global scale to create a new trillion-dollar industry that doesn’t exist today. I plan to share much more on this once I return from Money2020.
Thank you for all of your support!
Established in 2014, Abra is on a mission to create a simple and honest platform that enables millions of cryptocurrency holders to maximize the potential of their assets. Abra enables both individuals and businesses to safely and securely buy, trade, and borrow against cryptocurrencies – all in one place. Abra’s vision is an open, global financial system that is easily accessible to everyone.
Based in the United States, Abra is available in over 150 countries and makes it easy to convert between crypto and a wide variety of local fiat currencies. With over 2MM customers, $7B in transactions processed, and $1.5B in assets under management, Abra continues to grow rapidly. Abra is widely loved and trusted – in April 2022, pymnts.com reviewed and rated Abra amongst the top 5 most popular crypto wallets in the market. Abra is backed by top-tier investors such as American Express Ventures and First Round Capital.
How Abra Protects Your Funds
Abra places clients’ financial objectives and security first. Abra practices a culture of risk management across all levels and functions within the organization.
Abra employs a state-of-the-art enterprise risk management framework that comprises a comprehensive set of policies, procedures, and practices detailing all applicable risk-related objectives and constraints for the entirety of the business. Abra has instituted a complete set of requisite systems and controls that continuously enforce these policies, procedures, and practices to manage all operations, including credit and lending. Abra’s independent Risk Committee comprises experienced compliance, risk, securities, and fraud operations professionals with backgrounds in industries ranging from traditional and digital assets banking, payments, remittance, to fintech.
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