Klickl International, a UAE-based Web3 banking service provider, has closed an oversubscribed $25 million Series A funding round, raising its valuation to $125 million.
According to the firm’s press release, the round was co-led by Web3Port Foundation and Aptos Labs, with participation from Summer Ventures, Heritage Horizon Capital, V2 Capital, Alpha Square Group, Heng Feng Group, Trend Investment, and Bond Group.
The funding is expected to accelerate Klickl’s growth in the global Web3 banking sector. The company plans to launch two key initiatives in Q4 2024: Klickl Labs and Klickl Foundation. Klickl Labs will focus on strategic partnerships and incubating ventures in emerging markets like the Middle East and Africa, specifically targeting cross-border remittance and digital payment infrastructure. Klickl Foundation will promote Web3 ecosystem development and establish new standards for the “PayFi industry.”
Some of the investors in the funding round would also play important roles in this expansion plan. Web3Port Foundation will serve as a Limited Partner for Klickl Foundation’s Web3 Fund, while the Layer 1 blockchain platform from Aptos Labs will be the underlying infrastructure for the project.
CEO Michael Zhao emphasized that the funding will help the company expand its Web3 banking services in emerging markets across the Middle East, Asia, and beyond. He also highlighted the support from local authorities in the UAE, particularly under the Abu Dhabi Global Market (ADGM), which has enabled Klickl to become the region’s first fully licensed Web3 banking service, offering crypto custody and brokerage solutions.
This funding round reflects rising investor interest in Web3-based payment services, especially in Asia. Hata, a Malaysian-based crypto exchange, recently concluded a $4.2 million seed round led by Castle Island Ventures and Cadenza Ventures. The new capital is expected to help expand Hata’s offerings and attract both retail and institutional clients across the Asia Pacific, particularly focusing on fiat currency trading like the Malaysian Ringgit (MYR) and US Dollar.
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