Nestcoin has raised $1.9 million in a round led by Hashed Emergent, with participation from a global consortium of investors including Adaverse, Base Ecosystem Fund, Alter Global, CMT Digital, Magic Fund, 4DX Ventures and participating angels.
This funding will enable Nestcoin to strengthen its balance sheet and further its agenda to create equal access to economic opportunities through Onboard.
Nestcoin is a Web3 application company that builds, operates, and invests in crypto-native products
Recognising the limitations of traditional finance in providing solutions for the future, Nestcoin has raised capital to focus its efforts on building Onboard. Onboard is a digital money app that provides universal access to world-class financial services.
Yele Bademosi, Co-Founder and CEO of Nestcoin, shared his vision, stating “We firmly believe that access to high-quality financial services should be universally available, regardless of one’s geographical location. We are committed to achieving this goal by creating a delightful and simple-to-use self-custody digital wallet”.
The recently launched Onboard Wallet is a secure self-custody wallet for managing digital assets with no middlemen. Onboard Wallet provides a seamless user experience, a seedless wallet, and an easy way to transfer funds directly to a bank account without going through a centralised exchange.
This marks just the beginning of Onboard’s commitment to providing its community with simple and delightful financial options that reduce reliance on traditional trust-based systems.
Jesse Pollak, Creator of Base expressed his enthusiasm, saying “We’re grateful to be building on Base with Nestcoin and proud to support them with the Base Ecosystem Fund. We’ve been inspired by their work creating Onboard, which is empowering people across Africa to come onchain and experience increased access, freedom and opportunity. We are excited to work together to bring the next million builders and billion users onchain together.”
A few months ago, Nestcoin announced its shift in strategic direction, away from its previous model of simultaneously incubating multiple products to concentrate on the development of Onboard Wallet. Since its successful launch in April, Onboard Wallet has been dedicated to facilitating seamless crypto transactions.
The next milestone for Onboard is the introduction of Onboard Virtual Cards, a service that will allow Onboard users to spend their crypto as easily as cash, making both online and in-store payments possible across more than 160 countries.
Tak Lee, CEO and Managing Partner at Hashed Emergent expressed his confidence in Nestcoin’s team, noting, “We’re excited to support Nestcoin as we are confident about the founding team’s ability to create a retail crypto product for African users given their teams’ impressive track record with products like Bundle and Carbon.
“The platform’s user-friendly design along with a self-custody infrastructure is precisely what Africa, one of the youngest and fastest-growing populations globally, requires for large-scale adoption of crypto. This approach to product development also aligns seamlessly with our web2.5 thesis.”
Nestcoin’s successful strategic funding round, backed by prominent investors and their unwavering commitment to building Onboard Wallet, highlights their dedication to democratising financial access.
As they prepare to launch Onboard Virtual Cards, Nestcoin is poised to further simplify cryptocurrency transactions, bridging the gap between traditional and digital finance. With strong industry support and a user-centric approach, Nestcoin is paving the way for a more inclusive and equitable financial landscape.
Vincent Li, Adaverse Founding Partner stated that “Nestcoin represents the vanguard of a financial revolution in Africa, where borders have transformed from barriers into bridges of opportunity. Onboard is a brilliant next-gen concept poised to contribute to sustainable economic models, perfectly aligning with our mission for sustainable development… We are proud to be part of Nestcoin’s journey in redefining financial access through the innovative Onboard Wallet.”
