Nestcoin, a fast-growing Nigeria-based fintech startup, has raised $1.9 million in a strategic funding round to strengthen its balance sheet and pursue its agenda to create equal access to economic opportunities through Onboard Wallet transactions.
The fintech’s $1.9 million strategic round is led by Hashed Emergent, with participation from a global consortium of investors including Adaverse, Base Ecosystem Fund, Alter Global, CMT Digital, Magic Fund, 4DX Ventures and participating angels.
Speaking on the funding round by the company, Co-Founder and CEO of Nestcoin, Yele Bademosi, said that “we firmly believe that access to high-quality financial services should be universally available, regardless of one’s geographical location. We are committed to achieving this goal by creating a delightful and simple to use self-custody digital wallet”.
Also commenting on the successful deal, Creator of Base, Jesse Pollak, enthused: “We’re grateful to be building on Base with Nestcoin and proud to support them with the Base Ecosystem Fund. We’ve been inspired by their work creating Onboard, which is empowering people across Africa to come onchain and experience increased access, freedom and opportunity. We are excited to work together to bring the next million builders and billion users onchain together.”
Similarly, CEO & Managing Partner at Hashed Emergent, Tak Lee, expressed his confidence in Nestcoin’s team to succeed in its current drive toward making Onboard Wallet the preferred digital transactions platform for users globally.
He said: “We’re excited to support Nestcoin as we are confident about the founding team’s ability to create a retail crypto product for African users given their Nestcoin raises a $1.9M strategic round to Fuel Onboard Wallet’s Growth 3 teams’ impressive track record with products like Bundle and Carbon.
“The platform’s user-friendly design along with a self-custody infrastructure are precisely what Africa, one of the youngest and fastest-growing populations globally, requires for large scale adoption of crypto. This approach to product development also aligns seamlessly with our web2.5 thesis”, the fintech expert added.
This is even as Adaverse Founding Partner, Vincent Li, said: “Nestcoin represents the vanguard of a financial revolution in Africa, where borders have transformed from barriers into bridges of opportunity. Onboard is a brilliant next-gen concept poised to contribute to sustainable economic models, perfectly aligning with our mission for sustainable development… We are proud to be part of Nestcoin’s journey in redefining financial access through the innovative Onboard Wallet.”
The recently launched Onboard Wallet is a secure self-custody wallet for managing digital assets with no middlemen and provides a seamless user experience, a seedless wallet, and an easy way to transfer funds directly to a bank account without going through a centralised exchange. This marks just the beginning of Onboard’s commitment to providing its community with simple and delightful financial options that reduce reliance on traditional trust-based systems.
A few months ago, Nestcoin announced its shift in strategic direction, away from its previous model of simultaneously incubating multiple products to concentrate on the development of Onboard Wallet. Since its successful launch in April, Onboard Wallet has been dedicated to facilitating seamless crypto transactions.
Nestcoin’s successful strategic funding round, backed by prominent investors and their unwavering commitment to building Onboard Wallet, highlights the management’s commitment to democratising financial access in Africa and globally.
Industry experts believe that NetCoin’s management begin to prepare to launch Onboard Virtual Cards, the launch will further simplify cryptocurrency transactions, bridging the gap between traditional and digital finance.
