Vezgo, company on a mission to help Web 2 FinTechs bridge the gap into Web3, has raised $750,000 in an oversubscribed pre-seed funding round.
The funding came from from Bitnomic Capital Inc., Flinks Technologies Inc., M2S Capital Inc., Chouinard Family Office in addition to angel investors and serial entrepreneurs Andrew Izyumov (ex-Goldman Sachs) and Rachid Ajaja.
Based in Onatrio, Canada, Vezgo Vezgo completed its spin-off from Wealthica and now operates as a wholly independent entity.
The company said it is helping Web 2 FinTechs and financial companies, such as taxes, insurance, compliance, audit and assurance, bridge the gap into Web3.
The technical team at Vezgo built a Unified Crypto API platform that enables developers to integrate with Web3 data.
Using the Vezgo API, FinTech app developers can connect with their users’ data coming from every part of the crypto ecosystem: centralised exchanges, wallets, NFTs and blockchains in general.
Vezgo enhances the data with normalised transaction types, fiat exchange rates and multiple data improvements that make the developer’s life easier.
The company added that it bridges the gap between Web2 and Web3 and allows for seamless integration of Web3 data into Web2 use cases.
With the closing of the Company’s pre-seed round, Vezgo is now focused on building up its go-to-market sales team to keep scaling the number of paying customers with the goal to finish the year with over 50 paying customers.
Martin Leclair, CTO of Vezgo, said, “Over the past seven years at Wealthica, we’ve gained tremendous insight into the needs and challenges of developers who need connectivity to their end users’ wallets and crypto exchange accounts.
“With Vezgo’s Crypto API, developers can focus on building their products, while Vezgo handles all the complexity of aggregating data from Crypto Exchange APIs, Wallets and Blockchain data.”
Earlier this month, Xternity, an Israeli provider of a Web3 platform for games, scored $4.5m in pre-seed investment.
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