Pyypl Secures $11 Million in Series A Funding

Pyypl, a blockchain technology-based provider of digital payments and financial services, recently announced that it has raised $11 million in the Series A investment round to continue its rapid growth in the GCC markets.

Moreover, the UAE-headquartered firm is planning to expand its presence in Africa, particularly Kenya and Mozambique. According to the details shared by Pyypl, the latest round saw participation from a diverse group of investors from North America, the Middle East, Asia and Europe.

Last year, Pyypl formed a partnership with the blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Read this Term firm, Ripple. The financial services provider joined hands with Visa recently. Through the latest funding, Pyypl aims to increase the adoption of digital tools in the payment industry.

“Pyypl is on a mission to serve MEA’s huge consumer base. Hundreds of millions of people, whilst having a mobile phone and internet connection, are either completely unbanked or severely under-served in their daily financial services. The new capital will be deployed to scale our operations in the GCC and Africa, particularly Kenya and Mozambique,” Antti Arponen, the Founder and CEO of Pyypl, commented.

Last week, Tribal, a B2B payments Payments One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl Read this Term and financing platform for emerging markets, received $60 million in funding to expand across Latin America.

Fintech Sector

Last year, global fintech funding touched a record high. UK’s financial technology sector alone attracted $37.3 billion in 2021, which is up nearly seven times compared to 2020.

“We welcome all our new investors to our financial inclusion journey, and we couldn’t be more excited to enter the next phase of our growth. Pyypl is in the right industry, in the right geographies, at the right time, evidenced by the 10x growth in business volumes we have generated in the last 12 months. We are very pleased to have a successful over-subscribed investment round and welcome our new investors,” Paul Goldfinch, Pyypl’s CFO, added.