Cobo Raises $40 Million in Series B Funding Round

Cobo, a Singapore-based leading wallet company, has raised $40 million in Series B funding round.

The latest funding round was led by DST Global, A&T Capital, and IMO Ventures. This follows a $13 million Series A fundraising round in October 2018.

The company will utilise the new funds to refine its DaaS services, apply for regulatory licenses to meet anti-money laundering (AML) and counter-financing of terrorism (CFT) compliance requirements in various markets, and continue to maintain its position as a global leader in innovation. Particularly focus on the launch of the highly anticipated DaaS — “DeFi as a Service”.

“In the past, we’d witnessed crypto applications evolve from Bitcoin to DeFi and now NFTs. In due time, I even foresee metaverses will be next to be developed on the blockchain. So, looking ahead, we have the foundational infrastructure in place that will enable us to serve 1,000 institutional investors,” commented Discus Fish, CEO at Cobo.