Num Finance raises $1.5M USD in pre-seed funding
Num Finance, a Buenos Aires, Argentina-based issuer of local stablecoins in Latin America, raised $1.5M in USD in Pre-Seed funding.
The round was led by Reserve. Investors included H20 Scouter Fund, Ripio Ventures, and Matias Woloski, the CTO of Auth0.
The company intends to use the funds to extend its service offering to Colombia and Brazil, as well as probing other emerging markets in Latin America, North Africa, and Asia.
Led by Agustín Liserra, Num Finance specializes in issuing local stablecoins through its financial platform, Num Network. Using tokenized local money, tokenized money markets, and convenient on and off-ramps, it offers a real-world asset stack for web3, providing businesses an efficient way to expand their operations in emerging markets, providing access to yields, loans, and digital assets while ensuring stability and security in financial transactions.
Leveraging capital from this funding round, Num Finance will launch new stablecoin tokens for the Brazilian Real (nBRL), Colombian Peso (nCOP), Mexican Peso (nMXN), and Dinar Bahrain (nBHD).
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