Nume Crypto raised $ 2 million

The new start up Nume Crypto successfully raised $ 2 million in a preliminary funding round led by the company Sequoia Capital India. Created by the Indian sisters Madhumitha and Niveda Harishankar, the startup was born with the aim of promoting cryptocurrency payments.

Nume, a startup that wants to lead the adoption of cryptocurrencies for payments

Several companies and investors have joined Sequoia in the funding round of the startup Nume Crypto. For example, we report the participation of Beenext, Whiteboard Capital and Jaynti Kanani, who is the co-founder of Polygon. The former CTO of Coinbase (Balaji Srinivasan) and general partner of BlockTower Capital (Sanat Rao) also spoke. The capital obtained will be used by Nume Crypto to launch a payment platform during the fourth quarter of the current year.

That said, the founders (Madhumitha and Niveda Harishankar) of this new startup based in the United States have expressed a desire to promote the use of cryptocurrencies as a means of payment through the platform they are about to launch. They indicated that the adoption of these digital assets is hampered in particular by the often high transaction costs of the blockchain. Weak ability to deal also plays an important role, according to them.

In an interview, Niveda said:Nume’s main offering is a payment protocol that has no lower limits on the cost of transactions. This allows for low-cost crypto transactions for consumers and merchants. We believe this could be a game changer and a catalyst for the mass adoption of crypto payments.“.

The two sisters intend to use their experience to achieve their goal. It must be said that they both master the engineering and construction of the products. On the one hand, Madhumitha was a software engineer at Barclays and Amazon Web Services. On the other hand, Niveda was a user experience designer on Amazon, working with the Marketplace, Alexa and Kindle teams.

A startup that offers its services to both individuals and businesses

Nume Crypto is designed for both individuals and companies. To this end, the startup intends to offer two distinct services depending on the case: NumePay and NumePay Business. NumePay is a wallet that people can deposit cryptocurrencies into to make purchases from brands that support NumePay payment. As for NumePay Business, it will allow businesses to get started offer a means of payment in cryptocurrencies to its customers.

Furthermore, Nume Crypto would have its own layer 2 network called Nume Protocol. This network is expected to support cryptocurrency payments at near-zero cost. Initially, the platform will support payments in Ether (ETH) and ERC-20 tokens.

Nume Crypto is a new startup based in the United States and founded by the Indian sisters Madhumitha and Niveda Harishankar. The startup was created with the aim of promoting the use of cryptocurrencies for payments to individuals and companies. It will use the $ 2 million in funds raised in its funding round to launch its platform.

Source: CoinMarketCal

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Luc José Adjinacou

Far from dulling my enthusiasm, a fruitless investment in a cryptocurrency in 2017 only increased my enthusiasm. I therefore decided to study and understand the blockchain and its multiple uses and to transmit information relating to this ecosystem with my pen.

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