SINGAPORE-BASED digital currency exchange provider Zipmex has raised US$3 million in a pre-Series A round led by blockchain technology group Infinity Blockchain Holdings, raising its valuation to US$18 million, said the startup on Monday.
Singapore-headquartered Infinity Blockchain Holdings, which contributed US$500,000 to the round, is also an early backer of blockchain startups Cardano and NEO. In total, there were six investors in the funding round, comprising mainly angel investors. Zipmex recently launched country-centric digital currency exchange platforms in Indonesia and Australia.
"With backing from such an established group within the blockchain industry, we will accelerate our Asia-Pacific expansion plans, with a licence application underway for a Thailand-centric exchange," said Zipmex co-founder and CEO Marcus Lim. Mr Lim was the co-founder of Australian online marketplace Oneflare, which connects consumers with a range of businesses including those in home renovation and web design.
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