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Global fintech company Wirex, which created a product combining traditional money and cryptocurrencies into one app, has raised $15 million from strategic investors.
Wirex will use money received for the Ukrainian R&D centre to attract professional developers. They will create new functionality for the London-based company’s fintech and crypto products and scale payment services following their recent launch in the USA.
The $15M investment raised is bridge funding ahead of a massive $60-80M Series B round scheduled for 2022.
According to Wirex’s CEO and Co-Founder,Pavel Matveev, the fourth quarter of 2021 was an extremely busy time for the company. Wirex introduced a new whitepaper that refocuses their products for the metaverse and Web 3.0. They also invested 5 billion WXT (Wirex’s native token available on crypto exchanges) in the Nereus Finance DeFi protocol and launched the [Wirex Wallet](http://wirex%20wallet/), a mass market, non-custodial cross-chain wallet.
Wirex uses cutting-edge technology to develop products based on microservice architecture and blockchain. We’re now looking for professional developers and IT specialists to work remotely on our products from all over Ukraine. We plan to develop new functionality such as payment and trading tools, and integrate new blockchain protocols, DeFi applications, and scale the product in new markets, says Kolodyazhnyi.About Wirex: Wirex is a worldwide digital payment platform and regulated institution that has forged new rules in the digital payments space. In 2015, the firm developed the world’s first contactless payment card that gives users the ability to seamlessly spend crypto and traditional currencies in real life. Wirex was created in 2014 by CEOs and co-founders Pavel Mateev and Dmitry Lazarichev, who identified the need to open up the esoteric world of cryptocurrencies and make digital money accessible for everyone. With the core aim of making it as easy as possible to use digital assets in everyday life, Wirex provides a trusted and cost-effective service for crypto and traditional currency transactions by incorporating the next generation of payments infrastructure integrated with cryptocurrency blockchains. Wirex is a Principal Member of Visa and Mastercard payment systems, which allows the company to issue payment cards independently. Currently, more than 4.5 million people use Wirex Visa and MasterCard in 130 countries. Wirex is growing rapidly: the company successfully launched a card program in Europe, APAC region and issued its own Token — WXT. In 2021, the company processed $10 billion worth of transactions. Wirex is based in London, with offices in Singapore, Dallas, Dublin and Atlanta. The R&D centre is located in Ukraine. Nearly 400 specialists work globally on Wirex products. By the end of 2022, Wirex plans to expand its team to 600 people. There are currently over 60 opened positions in Wirex offices. To reflect the growth of the metaverse, throughout 2021, the company has expanded their product to enable mainstream access to DeFi. Starting with the launch of their popular X-Accounts feature, offering unprecedented levels of interest, Wirex has continued to add to their DeFi arsenal with the release of the non-custodial Wirex Wallet and a partnership with Nereus, a decentralised liquidity market. Wirex’s mission is to empower people to enjoy the benefits of a world where all currencies are equal.
