Nigeria Startup “Nestcoin” Raises Pre-Seed Capital For Crypto Adoption

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Nestcoin, a Nigerian tech startup, says it has secured $6.45 million pre-seed capital to accelerate crypto adoptions and web3 operations in frontier markets.

Nestcoin is a technology company that develops and manages web3 apps – an idea for a new iteration of the world wide web-based on the blockchain, which incorporates concepts including decentralisation and token-based economics.

Founded in November 2021, the company said the fundraising was led by Distributed Global, Alter Global, Serena Ventures, Alameda Research, and A&T Capital.

Other institutional investors include MSA Capital, 4DX Ventures, Raba Capital, Goat.VC, Old Fashion Research, CMT Digital, Electric Capital, Social Capital, CoinFund, Gumi Cryptos Capital, Defi Alliance, among others.

In a statement issued on Tuesday. Nestcoin said it would use the funding to provide the gateway for young people to discover and participate in crypto.

Yele Bademosi, co-founder of Nestcoin, said the fund would help accelerate crypto adoption and financial freedom for people in frontier markets.

– The Cable 

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