Aditya Hadi Pratama · · 1 min readYC, Payfazz founder’s VC pour $500k into Indonesian crypto startup
Blocknom, an Indonesia-based crypto startup, has raised US$500,000 in pre-seed funding from Y Combinator, Magic Fund, and Number Capital – a VC firm founded by Payfazz CEO Hendra Kwik.
Blocknom founders Fransiskus Raymond (left) and Ghuniyu Fattah Rozaq / Photo credit: Blocknom
Founded in January, Blocknom enables users to invest in crypto assets and gain interest of up to 13% per year. The company said that its interest earnings are the highest in Indonesia. It is also the first Southeast Asian crypto earnings platform backed by Y Combinator.
Since its inception, the firm has recorded “double-digit” growth in assets under management and active users every week.
Blocknom was founded by Fransiskus Raymond, who previously worked at Gojek and Shopee, and Ghuniyu Fattah Rozaq, a former developer for Ritase. It currently has 13 employees, with nine of them working in the engineering division.
The company aims to use the fresh funds for growth activities. It also plans to raise seed funding this year.
See also: Are SEA’s tech VCs missing out on the crypto craze?
Editing by Collin Furtado and Lorenzo Kyle Subido
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