The Stellar Development Foundation (SDF) has announced the launch of the $30 Million Matching Fund which takes a novel approach by co-investing alongside investors globally, matching investments raised from a lead investor up to $500,000.
The Fund is for pre-seed to Series B companies interested in building on the Stellar blockchain and provides a new opportunity for early-stage companies to augment their existing fundraising efforts.
The Fund’s first four investments includes Afriex a cross-border payments service provider for free remittance in Africa. SDF announced its support on a range of companies working on diverse markets and use cases, from payroll in Latin America to remittances in Africa.
Read Also: Create Posts, Complete Tasks, Verify Account to Earn XTM Rewards on Torum SocialFi Platform
About Afriex:
Afriex is a payment app that is addressing the issue of slow and expensive remittance payments. They provide free cross-border payments for users in emerging markets including Nigeria, Ghana, Kenya, and Uganda, and integrating with the Stellar anchor network could help them expand into new markets. Co-investors in Afriex include Future Africa, Softbank Opportunity Fund, and Precursor Ventures.
About Stellar
Stellar is a decentralized, fast, scalable, and uniquely sustainable network for financial products and services. It is both a cross-currency transaction system and a platform for digital asset issuance, designed to connect the world’s financial infrastructure. For more information, visit stellar.org.
About the Stellar Development Foundation
The Stellar Development Foundation (SDF) is a non-profit organization that supports the development and growth of Stellar, an open-source network that connects the world’s financial infrastructure. Founded in 2014, the Foundation helps maintain Stellar’s codebase, supports the technical and business communities building on the network.
Discover more from DiutoCoinNews
Subscribe to get the latest posts sent to your email.
