African Web3 Startup Nestcoin Raises USD 1.9 M Funding

Nestcoin, a company building, operating, and investing in web3 applications, has secured USD 1.9 M in a strategic funding round. Hashed Emergent, a Web2.5 fund for builders from emerging markets, led the round. Alter Global, Magic Fund, CMT Digital, and 4DX Ventures, Adaverse and Base Ecosystem Fund also participated. The startup is a development company housing modern finance project Onboard.

Nestcoin aims to democratize access to economic opportunities presented by crypto and web3, making it simple and accessible to everyday people. Nestcoin plans to use the money to shore up its finances and continue with its mission to provide individuals in frontier markets with equitable access to economic possibilities through the development of Onboard.  The firm claims that Onboard would help Africans unable to access financial services and possibilities to grow their wealth owing to location constraints or a lack of faith in the continent’s financial systems.