Blockchain startup Zone has attracted $8.5 million in investments

The Zone startup raised $8.5 million to "scale a decentralized payment infrastructure." Flourish Ventures and Telecom Capital became investors.

Blockchain startup Zone has attracted $8.5 million in investments

The African payment company Zone has announced the completion of an $8.5 million seed funding round led by venture capital firms Flourish Ventures and TLcom Capital.

The press release says that the startup is creating a decentralized blockchain-based payment infrastructure for financial service providers on the continent and beyond.

"The Zone network provides payment services for financial service providers and their customers. The company holds a unique position as Africa's first regulated blockchain network for payments and has already signed agreements with more than 15 major African banks and fintech companies," the statement said.

It is known that new financing is used to develop the network within the country and attract more companies. In addition, a "significant portion" of the funds received will be used to conduct a comprehensive pilot program for testing cross-border payments, scheduled for 2025.

The company added that one of Zone's key priorities is to ensure readiness to expand its presence in Africa.


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