We’re excited to announce that we’ve just closed our $66 million Series B. Participants include a mix of notable venture firms, cryptocurrency technology companies, prominent entrepreneurs, investors, and artists. Differentiated by speed, privacy, and environmental friendliness, MobileCoin is further well-positioned to enable easy, secure, and private digital payments from nearly anywhere in the world.
Series B investors include: Alameda Research, Berggruen Holdings, BlockTower Capital, Coinbase Ventures, General Catalyst, Marc Benioff’s TIME Ventures, Vy Capital, Suzy Ryoo, Troy Carter & J. Erving, Rodney “Darkchild” Jerkins, Brent Faiyaz, Jayne Andrew & Ty Baisden, Tunde Balogun, Aglaé Ventures, DreamCrew, Matt Mullenweg, Jesse Robbins, James Lindenbaum, Gaingels, and 10X Capital.
The round will be used to further develop MobileCoin’s products, including our Merchant Services buildout, and the rollout of our stablecoin, whose value will stay consistent with the US Dollar. In addition, we’ll continue to prioritize tech development that will make it easier for mobile messaging and communications applications to add MobileCoin payments between their users.
As a company, we differentiate ourselves in a crowded payments landscape with a unique value proposition:
- Mission-driven: MobileCoin is a mission-founded company, focused on democratizing privacy for all. MobileCoin aims to build the future of digital payments in an accessible and sustainable way.
- Easy-to-use: MobileCoin transactions are one of the fastest in the world, completing in just seconds, giving senders and receivers peace of mind and minimizing risk. The technology was built for mobility and convenience, with payments occurring right on your phone.
- Private and secure: The company puts privacy first, with an opaque ledger and cryptographically protected transactions. The network uses forward secrecy to keep data from being compromised, ensuring that private information remains private. Unlike other cryptocurrencies, MobileCoin was built to ensure that digital wallets can be easily recovered — and not lost forever. Even if merchants or users lose their phone, they can recover their account balance and transaction history by simply loading their account onto a new phone.
- Environmentally-friendly: As the most environmentally friendly payment technology today, MobileCoin uses a network consensus model (Federated Byzantine Agreement) that requires near-zero energy to run.
- Supporter of the arts: MobileCoin embodies a culture surrounding the cultivation of the arts. Given that privacy is integral to the act of creation, art and culture arise when given a safe space to flourish. This shared passion among the MobileCoin team is exemplified in MobileCoin Radio and the MobileCoin Art Residency.
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