Blockchain FinTech company Pyypl completes $20 million Series B funding

2022-11-07 20:38:54

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ChainCatcher news, according to TheNationalNews, blockchain cross-border remittance FinTech company Pyypl announced the completion of a $20 million Series B funding round, with participation from multiple international investors and 10 existing investment institutions.

Pyypl was founded in 2017 and is headquartered in the UAE. In February of this year, Pyypl completed a $11 million Series A funding round. Since its establishment, Pyypl has raised approximately $40 million from investors in Europe, the United States, Asia, and the Middle East, including the UAE-based venture capital firm Global Ventures.

In October 2021, Pyypl partnered with blockchain technology company Ripple to introduce a cryptocurrency-based On-Demand Liquidity (ODL) solution for cross-border remittances between the Middle East and the Philippines. This solution is based on the RippleNet network of banks and money service businesses, using the XRP digital currency as a bridge between fiat currencies, helping users transfer funds economically and instantly across jurisdictions. Currently, its cross-border remittance services have expanded to approximately 60 countries/regions worldwide. (Source link)

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FinTech Pyypl financing Ripple XRP

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