Web3 payments startup Nume crypto secures $2 mm from Sequoia Capital

• ByStartupStory     |    June 14, 2022

Nume Crypto, a cryptocurrency payments startup, has raised $2 million in a pre-seed funding round led by Sequoia Capital India. 

BEENEXT, Whiteboard Capital, and several angel investors participated in the round, including Jaynti Kanani, Co-Founder of Polygon; Balaji Srinivasan, Former CTO of Coinbase and General Partner at a16z; Gabby Dizon, Co-Founder of Yield Guild Games (YGG); Sanat Rao, General Partner at BlockTower Capital; Rahul Rai, Co-Head of Market Neutral at BlockTower Capital; Arun Samudrala, Engineering 

Vinodh Bhat, Co-founder of JioSaavn, and Ankit Jain, CEO and Co-Founder of StepChange and Former VP of Ola Electric, are among Nume Crypto’s advisors.

Nume Crypto, founded by sisters Madhumitha and Niveda Harishankar, intends to create a near-zero-cost payment gateway to process cryptocurrency payments using their Layer-2 scaling platform, which will be built on Ethereum. 

The platform’s goal is to eliminate “gas fees,” which have become a major issue. Gas fees are the costs associated with conducting a transaction on the blockchain. First and foremost, the platform will support bitcoin, ethereum, and stable coins. 

The additional funds will be used to build the product, determine product market fit, and onboard customers. The Harishankar sisters told Moneycontrol that they would pilot the product for a few months before launching it. NumePay and NumePay Business will be available on the platform. 

Shailesh Lakhani, MD, Sequoia India said that Nume aims to fulfil cryptocurrency’s original promise of making it accessible to the masses as a payment platform. Sequoia Capital India is thrilled to lead their pre-seed Fundraise.

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