Aditya Hadi Pratama · · 1 min readBlockchain startup bags $2m for money transfer service in SEA
Almond Finance, a blockchain-based money transfer service based in Boston and Singapore, has raised US$2 million in a seed funding round led by Morningside Group.
Photo credit: Almond Finance
Founded last year by Adam Swartzbaugh and Yunus Sevimli – both MIT Sloan School of Management graduates – Almond Finance allows people to send money across borders through blockchain tech, even without a bank account.
The fintech firm aims to open its first money transfer corridor in the first quarter of 2022, which will focus on Southeast Asia and North America. Almond Finance said in a statement it is currently in discussions with potential partners in Thailand and Malaysia and also finalizing agreements with the two largest financial institutions in Cambodia.
Almond Finance plans to use the fresh funds for hiring, product development, and compliance purposes.
Editing by Miguel Cordon and Arpit Nayak
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