Zebedee Secures $35M to Support the Integration of its Bitcoin-based Payment System
The New Jersey-based blockchain company has announced that it has raised $35M in funding to enable the development and integration of its payment system.
The blockchain gaming ecosystem has witnessed tremendous innovations in recent times, and notable investors have expressed their desire in supporting promising projects with the resources required for scaling. Zebedee, the New Jersey-based blockchain company, has joined the list of projects to secure funding. The company announced that it had raised the sum of $35M in a funding round.
Details of the Funding
The funding round was led by Kingsway Capital, with contributions from The Raine Group, Giant Square Enis, Lakestar and Initial Capital. The companies participating in this investment are global companies with immense influence in the banking and video game sector.
According to Zebedee, the funding will aid the development of its blockchain platform, which seeks to allow game developers to include programmable money into their games, allowing seamless financial transactions at no extra cost. The solutions are designed to offer both application programming interface (API) based tools for developers alongside an app for gamers.
The APIs are easy to integrate, and they act as a wallet for sending and receiving funds between games and players. To achieve functionality, Zebedee utilizes the Bitcoin Lighting Network as the structure for its payments infrastructure, and the ultimate goal is to enable a more rewarding experience for gamers without an in-depth knowledge of cryptocurrency.
Comments on the Funding
In a statement, Simon Cowell, CEO of Zebedee, commented:
“This funding round gives us the ability to meet our highly ambitious roadmap both in terms of building out our infrastructure to support the hundreds of millions of users that play our partners’ games, as well as hire the top-level talent needed to ensure every partner has the best possible experience working with Zebedee.”
Managing partner at Kingsway Capital, Afonso Campos, further added:
“We are excited to lead Zebedee’s latest funding round and support their continuing mission to become the Bitcoin enabler of choice for their partners; partnering with Zebedee will allow its entire ecosystem to benefit from higher user retention, lower transaction costs and generally a superior payments experience.”
Zebedee is focused on attaining its set goals, and this recent round of funding places it in a solid position to develop its project while creating a blueprint for its expansion.