Nume Crypto Raised $2 Million

The new Nume startup Crypto has successfully raised $2 million in a pre-seed funding round led by the company Sequoia Capital India. Created by Indian sisters Madhumitha and Niveda Harishankar, the startup was born with the aim of promoting cryptocurrency payments.

Nume, a startup looking to boost the adoption of crypto for payments

Several companies and investors have joined Sequoia in the funding round of the Nume Crypto startup. For example, we notice the participation of Beenext, Whiteboard Capital and Jaynti Kanani, co-founder of Polygon. Former Coinbase CTO (Balaji Srinivasan) and general partner of BlockTower Capital (Sanat Rao) also agreed. The capital obtained will be used by Nume Crypto to launch a payment platform in the fourth quarter of the current year.

That said, the founders (Madhumitha and Niveda Harishankar) of this new startup based in the United States have expressed a desire to promote the use of cryptocurrencies as a means of payment through the platform they are about to launch. They indicated that the adoption of these digital assets is hindered in particular by the often high transaction costs of the blockchain. They also believe that the weak transaction capacity plays an important role.

In an interview, Niveda said:Nume’s core offering is a payment protocol that has no lower limit on transaction fees. This enables low-cost crypto transactions for consumers and merchants. We believe this could be a turning point and a catalyst for the mass adoption of crypto payments.

The two sisters want to use their experience to achieve their goal. It must be said that they master both the engineering and the construction of products. On the one hand, Madhumitha has been a software engineer at Barclays and Amazon Web Services. On the other hand, Niveda was a user experience designer at Amazon and worked with the Marketplace, Alexa and Kindle teams.

A startup that offers its services to both individuals and companies

Nume Crypto is aimed at both individuals and businesses. To that end, the startup wants to offer two different services, depending on the case: NumePay and NumePay Business† NumePay is a wallet into which individuals can deposit cryptocurrencies to make purchases from brands that support the NumePay checkout. As for NumePay Business, this is what businesses can start with offer their customers a means of payment in cryptocurrencies

In addition, Nume Crypto is said to have its own layer 2 network called Nume Protocol. This network is expected to support cryptocurrency payments at almost no cost. Initially, the platform will support payments in Ether (ETH) and ERC-20 tokens.

Nume Crypto is a new startup based in the United States and founded by Indian sisters Madhumitha and Niveda Harishankar. The startup was born with the aim of promoting individuals and businesses the use of cryptocurrencies for payments. She will use the $2 million in funds raised in her round of funding to launch her platform.

Source: CoinMarketCal

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Luc Jose Adjinacou

Far from dampening my enthusiasm, a failed cryptocurrency investment in 2017 only heightened my enthusiasm. I therefore decided to study and understand the blockchain and its many applications and to pass on information about this ecosystem with my pen.

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