The seed round is seeking an initial $11 million in funding for an 18-month runway. The CoinCare Group has set the minimum buy-in amount to $100,000.
To find out more, visit https://coincaregroup.com
The latest move gives individuals an opportunity to participate in a neo-banking model that hybridizes fiat and digital currency transactions, allowing for seamless exchange between the two from anywhere in the world. This is the first time that the company has opened its doors to outside funding.
The CoinCare Group will offer a range of financial services as part of its neo-banking model. For one, it will issue a debit card with traditional banking features, but with digital currency capabilities that will enable holders to transact with Bitcoin and Ethereum.
The company has already partnered with a number of DeFi and traditional finance companies, such as Visa, Prime Trust, TAG Systems, and Galileo, among others. These partnerships ensure that customers who use the service will have access to financial infrastructure wherever they may be in the world.
The neo-banking model is expected to grow exponentially between 2022 and 2030. According to industry research firm Grand View Research, rising demand from consumers will result in a 53.4% compound annual growth rate during the period.
Founded in 2021 by experienced entrepreneurs Jalal Ibrahimi and Chris Goma , CoinCare was established in an attempt to help those without access to traditional banking take advantage of the decentralization offered by the blockchain. Through their banking model, the unbanked can access services, such as ATM withdrawals, fiat-to-digital-currency conversions, forex, and more.
The CoinCare neo-bank is an expansion from the original mission of the company, which was to help small businesses get access to over $50 Million in capital they needed to recover from the pandemic without having to engage with predatory loan schemes. The CoinCare Group states explicitly that anyone, regardless of race, creed, or ethnicity, can make use of its services equally.
“1.7 billion adults worldwide do not have access to financial services; the infrastructure of all developed economies,” the company explained on its website. “CoinCare aims to be the bank of the people, giving easier access to financial services worldwide.”
Interested parties can visit https://coincaregroup.com for further details.
CoinCare Group, Inc.
2447 Pacific Coast Highway
Suite 200
United States
COMTEX_417051743/2764/2022-10-20T07:21:28
Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No PITCH SCOOP journalist was involved in the writing and production of this article.