Blockchain Lab based in Africa has secured a $6 million Pre-series A investment to support the launch of its crypto wallet VIBRA, to help increase the usage of the digital asset in Nigeria.
The Pre-A funding round was led by a group of international investors which includes Lateral Frontiers VC – a renowned African venture capital firms, Musha Venture and CRE Venture Capital, as well as international blockchain investors Dragonfly Capital, SNZ Capital, Hashkey Capita, Fenbushi, Head & Shoulder X, Cadenza Capital, LeadBlock, Hash Global, Krypital, Despace, Bonfire and others.
Co-founder of the Blockchain Lab, Vincent Li made a statement about the lab, its mission, and the effect of having investors on board saying:
“African Blockchain Lab was founded with a mission to drive the mass adoption of blockchain technologies and digital assets in Africa. We plan to ride on the backing of our investors to bring world-class tech stacks, innovation and projects to the African continent, starting with VIBRA, our first product”
On why they chose to invest in VIBRA, Lateral’s Steven Grin said that they believe that crypto can realize its potential as an asset and technology on the continent as crypto adoption is growing exponentially especially in Africa.
We are confident in VIBRA’s mission of making Crypto more accessible to African consumers because we have seen the importance of community building and user experience when adopting new technologies.
Managing Partner at CRE Venture Capital, Pardon Makumbe said: “We believe there’s a generational opportunity in Africa to build an inclusive and collaborative financial ecosystem using decentralized technologies, where all players are winners and we are happy to partner and make this happen with the world class team at Vibra.”
African Blockchain Lab (ABL) is a blockchain technology business that was founded by blockchain investment firm Everest Ventures Group. It is the developer of Africa Crypto app, VIBRA.
VIBRA is an Africa focused crypto social trading software that provides newbies a simple approach to study and trade with a community of specialists, allowing Africans to master crypto with ease
Developed by a global team of tech enthusiasts, blockchain experts, and investors to meet the growing demand for cryptocurrencies in emerging economies in Africa, starting with Nigeria.
Featured Image: Vincent Li, Co-founder of African Blockchain Lab
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