Numio, a cryptocurrency payments and identity management startup, has successfully closed a $1.25m seed funding round. HashKey Capital led the round and were joined by LD Capital, Youbi Capital, Caballeros Capital, DVC, ZMT Capital, as well as angel investors including Suji Yan of Mask Network, and Cecilia Li, ex-investment director of OK Group.
The Ethereum blockchain has undergone explosive growth over the past 12 months, cementing its place as the leading network for decentralized finance (DeFi). While Ethereum’s growth is positive overall, it has resulted in high fees and slow transaction speeds.
Numio has developed a mobile application that removes these limitations by leveraging Ethereum’s Layer 2. The integration of technologies like zkRollups, from zkSync, means that transactions on Numio’s Layer 2 wallet are instant and ~100 times cheaper than standard Ethereum.
The Numio app was released in December 2020. It allows users to make payments, securely and access online platforms with a more secure form of two-factor authentication than offered by Google Authenticator. The application’s zkProof technology also allows users to prove their identity to a third-party platform, without the need to send their identity documents. Numio is currently working with partners including PhoenixDAO and BTI Verified to secure their platforms.
New features currently in development are Layer 2 cryptocurrency trading, pooling, staking, eCommerce, and functionality for buying things at a store.
The money raised in this round will be used for continued user acquisition, further development of our DeFi roadmap, and for expanding the Numio team.
