African Blockchain Lab has raised $6 Million in pre-Series A financing to accelerate the adoption of digital assets across Africa and fund the launch of its crypto wallet VIBRA.
Global investors included Venture Capital, Musha Ventures and Lateral Frontiers VC. International investors Dragonfly Capital (SNZ Capital), Fenbushi (Fenbushi), Cadenza Capital, Head & Shoulder X as well international blockchain investors Dragonfly Capital.
“African Blockchain Lab was created with a single mission: to accelerate the adoption of digital assets, and blockchain technologies in Africa. “With the backing of strategic investors, our aim is to bring world-class technology stacks and projects to the African continent, beginning with our first product VIBRA,” Vincent Li, the co-founder of African Blockchain Lab said.
Steven Grin from Lateral said that crypto adoption in Africa is expanding exponentially. We believe that crypto has the potential to be both a technology and an asset on the continent. It can also help improve financial access for the millions of people who have been excluded from traditional financial services.
“We’ve seen the value of community building and user experience in adopting new technologies, and VIBRA’s management team is confident that crypto will become a major product for African consumers.”
“We believe Africa is a generation away from a better financial ecosystem. We believe decentralized technologies can make it more collaborative and inclusive. All players will win. We are delighted to partner at Vibra with the world-class Vibra team to make this happen,” Pardon Makumbe Managing Partner at CRE Venture Capital.