Venture capital giant Sequoia Capital has invested in another startup in the crypto industry. It was Nume Crypto, a new payment service for private transfers and businesses. They raised $2 million in pre-seed funding.
In addition to Sequoia Capital, the Beenext and Whiteboard Capital funds, as well as private investors, participated in the project.
India on the wave of crypto
Nume Crypto is an Indian project founded by two Harishankar sisters. The mission of the company is to increase the adoption of cryptocurrency for payments.
Cheap transaction technology
The Nume payment protocol is designed in such a way that it does not have a minimum transaction cost bar. In theory, this will allow buyers and sellers to make inexpensive crypto transfers. The founders of the project are sure that due to the low cost, crypto-payments will be more widely adopted.
The Nume Crypto provider is developing two products at the same time: NumePay for private transfers and NumePay Business for commercial payments.
The company is now negotiating with different business sectors to offer them a wallet and cash service. The protocol supports ether and ERC-20 tokens. A full launch of the platform is scheduled for the fourth quarter of this year.