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On Tuesday, the fintech and payment processor Zebedee announced the company has raised $35 million from Kingsway Capital, Raine Group, and video game giant Square Enix. Zebedee detailed that the Series B funding will help the startup “scale company-wide to meet the needs of the biggest names in the games industry.”
Gaming-Focused Fintech Zebedee Secures $35 Million
- The Hoboken, New Jersey-based company has raised $35 million from investors according to the company’s announcement sent to Bitcoin.com News on Tuesday. Zebedee specializes in financial technology concepts and integrating bitcoin into games.
- For instance, a bitcoin mining game for Android and iOS called “” allows users to receive bitcoin () rewards that are handled by Zebedee. Furthermore, the fintech company raised $11.5 million in a funding round led by Lakestar in September 2021.
- Zebedee’s latest financing was led by Kingsway Capital but Raine Group, Initial Capital, Lakestar, and Square Enix also participated. The video game giant Square Enix has toward non-fungible token (NFT) concepts and blockchain solutions in recent times.
- Zebedee detailed on Tuesday that it has crafted a platform that allows any developer to add programmable money functionality into games. The platform can make it so that “anything that happens in a game can trigger a payment, which is sent instantly and at nearly zero cost.”
- For instance, “when a player shoots someone in a competitive CS:GO match, they can take a small amount of money (e.g. a fraction of a cent) from them in real-time inside the match itself,” Zebedee explained. The fintech firm said that it offers API-based tools for software developers and an application for gamers.
- The payment platform for games created by Zebedee leverages the Lightning Network as a part of the project’s payments infrastructure. “We are pleased to be in a position where we can confidently scale our team and grow our business even as the macroeconomic backdrop becomes increasingly uncertain,” said Simon Cowell, CEO of Zebedee.
- Since the company’s initial fundraise for $11.5 million last September, Zebedee said the company’s user count has increased by more than 10X. Zebedee detailed that it’s a fintech company that is focused on gaming and bitcoin is “simply the payment rail that enables the flexible, programmable transfers of any amount between any game, app or user.”
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What do you think about Zebedee raising $35 million in a Series B led by Kingsway Capital and with participants like Square Enix? Let us know what you think about this subject in the comments section below.
