South Africa-based Valr has reportedly raised $3.4m to help build new products for its cryptocurrency exchange.
The investment was led by 100x Group, which is the parent company of cryptocurrency exchange Bitmex, according to a report from Bitcoin.com. Additional support came from 4Di Capital.
Valr is a cryptocurrency exchange platform where consumers can buy and sell a range of digital currencies. Users can also earn rewards and rebates on trades and referrals.
There have been a number of FinTechs based in South Africa to raise capital this year.
One of these companies was Jumo, which builds financial services for emerging market entrepreneurs. The FinTech startup raised $55m to support its launch into three countries, which are Nigeria, Côte d’Ivoire and India.
Other South African FinTechs to raise capital this year include insurance comparison platform CompariSure and technology developer Nomanini.
Copyright © 2020 FinTech Global
