Vyng Raised $5M Funding

vyng

Vyng, a Los Angeles, CA-based dialer app provider, raised $5m in funding.

The company plans to use the funds for expansion of its business reach as well as the features of its mobile app.

Led by CEO and co-founder Paul Kats, Vyng provides an Android dialer app used by millions of users – especially in emerging markets like South Asia, Latin America, and Africa. Vyng dialer improves calls by pushing unique photos and video content onto the lock screen of the person receiving it. The dialer features Caller ID and Spam Call Blocking as well as Video Caller ID and Video Ringtones. Call Messaging is also available.

The Bitcoin Dialer is the latest feature that allows anyone to make phone calls to family, friends and businesses. It rewards users with micropayments of SATOSHIS or “SATS” (a small amount of Bitcoin) simply for making the calls they already make. These SATS can be used to redeem Bitcoin wallets.

Once redeemed, users will be able to transfer their earnings to its partner wallet app–Bitcoin Libre–to hold or exchange for another currency.

Vyng launched in 2018 with 5 billion video clips from 170 countries.

The company raised $12MM in funding and is supported by March Capital and Omidyar Network as well as Newbound Venture Capital and Alpha Edison.

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