African Blockchain Lab has raised $6 million in pre-Series-A funding to drive the mass adoption of digital assets in Africa and to fund the launch of its crypto wallet VIBRA.
The funding round was co-led by a consortium of global investors, including Lateral Frontiers VC, CRE Venture Capital, Musha Ventures as well as international blockchain investors Dragonfly Capital, Hashkey Capital, SNZ Capital, Fenbushi, Cadenza Capital, Head & Shoulder X, LeadBlock, Hash Global, Bonfire, Krypital, Despace and m
“African Blockchain Lab was founded with a singular mission – to drive the mass adoption of digital assets and blockchain technologies in Africa. With the backing from our strategic investors, we intend to bring world-class tech stacks, projects and innovation to the African continent, starting with our first product VIBRA.” Vincent Li, the co-founder of African Blockchain Lab, commented.
Lateral’s Steven Grin mentioned, “Crypto adoption in Africa is growing exponentially. In fact, we believe that crypto can realize its potential as a technology and asset on the continent while also deepening financial access to the millions left out of traditional financial services.
“We have seen the importance of user experience and community building when adopting new technologies and we are confident in VIBRA’s management team mission of making crypto a mainstream product for African consumers.”
“We believe Africa has a generational opportunity to build a more collaborative and inclusive financial ecosystem using decentralized technologies, in which all players are winners. We are excited to partner with the world-class team at Vibra to make this happen”, Pardon Makumbe, Managing Partner at CRE Venture Capital.
