Stellar Development Foundation Takes Part In Abra $55 Million Series C Funding
Abra is a leading wealth management platform, completed a Series C funding with participation from the Stellar Development Foundation.
The company raised $55 million in the round led by major players in the industry, such as IGNIA and Blockchain Capital.
The Stellar Development Foundation was one of the new investors in the company alongside Kingsway Capital and Tiga Investment. In addition, Abra received investments from Lerer Hippeau Ventures, Amex Ventures, Arbor Ventures, RRE Ventures, CMT Digital Ventures, and Kenetic Advisors.
The release claims that the funds will be used to expand Abra’s team into new offerings which include wealth management, trading, and payments. Thus, why the investment from the Stellar Development Foundation could have a relevant role to achieve this goal. Bill Barhydt, founder, and CEO of Abra said the following:
Cryptocurrencies, NFTs and DeFi are now top of mind for almost all investors. The crypto asset class is growing exponentially, even outpacing the early commercial Internet itself. Our vision of crypto-centric banking is coming to life in front of our eyes, and Abra is excited to serve as a leader in the space.
Barhydt claimed to feel “proud” of the Abra team and their accomplishments. The executive expects the platform to keep scaling and growing.
