Fonbnk allows anyone in Africa and other emerging markets that use prepaid mobile SIM cards to obtain cryptocurrency assets by exchanging their airtime credits.
The oversubscribed seed round was anchored by New York’s New Form Capital, with
participation from leading global crypto investors including Kraken Ventures (the investment arm of the largest exchange by BTC euro volume in the world), North Island Ventures (affiliates of leading Asian exchange MEXC Global), and crypto-native cross-border investment firm Formless Capital.
American singer and entrepreneur Pharrell Williams (via Black Ambition) also participated, as well as a variety of leading early-stage investors including Hustle Fund, EchoVC, Lightspeed Ventures, Frontier Ventures, Techstars (Western Union), Industrious Ventures, Allied Venture Partners, Seed9, GP Ventures, and Pax Angeles.
