Cashaa to Launch $20M Venture Capital Fund for Web 3 Investments

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Cashaa, a fiat and cryptocurrency neo-bank is set to launch its $20 million venture capital fund following its exit from Unicas in India. The company plans to invest in 20-50 start-ups and Web 3 projects in various sectors such as metaverse, NFTs (non-fungible tokens), trade finance, banking, yield applications and layers 1 and 2.

The fund is expected to invest primarily in projects targeting the high growth market like India.

Cashaa recently left Unicas India, a joint venture established with United Multistate Co-op Society nearly two years ago. The venture was Cashaa’s first attempt to enter the personal crypto banking market after operating in B2B crypto banking. The deal was a management buyout in which Unicas purchased Cashaa’s management stake.

Decentralized financial system

Kumar Gaurav, Founder and Chief Executive Officer (CEO), said Activity area which after release, it seeks to venture into peer and decentralized financial systems, and gaming marketplaces. “Europe and the United States are our main markets. We are also looking for India, Japan, Korea and the Middle East,” he added.

Cashaa closely monitors the Indian market through its professional clients – CoinDCX, Bitbns, Unocoin and others. The company will soon launch a personal account product targeted for the Indian market, Gaurav added.

Cashaa started as a peer-to-peer money transfer platform that turned into a neo-bank in the UK. It helps businesses access banking infrastructure and deliver products to their users.

Published on

June 05, 2022

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