The new Nume startup Crypto successfully raised $2 million in a pre-seed funding round led by firm Sequoia Capital India. Created by Indian sisters Madhumitha and Niveda Harishankar, the startup was born with the aim of promoting cryptocurrency payments.
Nume, a startup that wants to drive the adoption of crypto for payments
Several companies and investors have joined Sequoia in the funding round of the Nume Crypto startup. We note for example the participation of Beenext, Whiteboard Capital and Jaynti Kanani, who is the co-founder of Polygon. Former Coinbase CTO (Balaji Srinivasan) and general partner of BlockTower Capital (Sanat Rao) also chimed in. The capital obtained will be used by Nume Crypto to launch a payment platform during the fourth quarter of the current year.
That said, the founders (Madhumitha and Niveda Harishankar) of this new startup which is based in the United States have expressed their desire to promote the use of cryptocurrencies as a means of payment through the platform they are going to launch. They indicated that the adoption of these digital assets is hindered in particular by the often high transaction costs of the blockchain. The weak transaction capacity also plays an important role, according to them.
In an interview, Niveda said:Nume’s core offering is a payment protocol that has no lower limit on the cost of transactions. This enables low-cost crypto transactions for consumers and merchants. We believe this could be a turning point and a catalyst for the mass adoption of crypto payments.“.
The two sisters intend to use their experience to achieve their goal. It must be said that they both master the engineering and construction of products. On the one hand, Madhumitha has been a software engineer at Barclays and Amazon Web Services. On the other hand, Niveda was a user experience designer at Amazon, working with the Marketplace, Alexa and Kindle teams.
A startup that offers its services to both individuals and businesses
Nume Crypto is intended for both individuals and businesses. To this end, the startup intends to offer two distinct services depending on the case: NumePay and NumePay Business. NumePay is a wallet on which individuals can deposit cryptocurrencies in order to make purchases from brands that support the NumePay checkout. As for NumePay Business, it will allow companies to start offer a means of payment in cryptocurrencies to their customers.
Besides, Nume Crypto would have its own layer 2 network called Nume Protocol. This network is expected to support cryptocurrency payments at almost zero cost. At first, the platform will support payments in Ether (ETH) and ERC-20 tokens.
Nume Crypto is a new startup based in the United States and founded by Indian sisters Madhumitha and Niveda Harishankar. The startup was born with the aim of promoting to individuals and companies the use of cryptocurrencies for payments. She will use the $2 million in funds raised in her funding round to launch her platform.
Source : CoinMarketCal
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Nume Crypto has raised $2 million
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