Home News XanPool startup raised $27M

XanPool startup raised $27M


Crypto-payment infrastructure provider XanPool has raised $27 million in a Series A funding round. PayPal co-founder Peter Thiel’s Valar Ventures capital led the round.

Other participants include CMT Digital, Wise (formerly TransferWise) founder and chairman Taavet Hinrikus. As well as current investors: venture capital firms Gumi Cryptos and Antler.

Thus, Hong Kong-based startup provides a non-custodial peer-to-peer payment platform for payments in fiat and cryptocurrencies. The liquidity providers for it are crypto funds, money service operators and traditional enterprises that have free capital in digital or fiat currency.

The capital of liquidity providers

“XanPool never touches this money, we just create software that allows individuals or companies to automate their purchases and sales and get rewarded for it,” explained Jeffery Liu, co-founder and CEO of the company.

In addition, the platform uses the capital of liquidity providers to conduct cross-currency and cryptocurrency transactions and pays them up to a 2% commission per month. Moreover, according to the startup, the amount of funds in the network is about $200 million.

XanPool has about 500,000 users and more than 400 business partners. The bulk of operations are in the Asia-Pacific region. The company will use the funds raised to expand its presence in the region. The startup expects to increase its user base to 10 million by the end of 2022.

Valar Ventures

Recall that earlier in July, Peter Thiel Foundation led a funding round for a Singapore-based crypto trading and lending Vauld company, which is developing a platform for fiat and cryptocurrency transactions.

According to the CEO and co-founder of the company, Darshan Bathija, they planned to hire around 200 people and expand internationally.

Andrew McCormack, a founding partner of Valar Ventures, has joined Vauld’s board of directors as part of the agreement. Vault’s total funding at the time was $27.5 million, thanks to the Series A round.

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