# Fonbnk

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/fonbnk

- Industry: Financial Services
- Headquarters: Dover, US
- Website: www.fonbnk.com
- Total disclosed funding: $5M
- Latest round: Seed (Mar 1, 2022)
- Investors on record: 18

## About

Based in Delaware, US, and founded in 2019 by its CEO, Christian Duffus, Fonbnk Inc., operates as a fintech company that helps mobile SIM card users transact cryptocurrency assets by exchanging their airtime credits. In March 2022, Fonbnk Inc. raised USD 3.5 million in seed funding led by new investor New Form Capital, with participation from other new investors Allied Venture Partners, Audacity, and EchoVC Partners.

Fonbnk offers a web3 application platform for digital currencies such as Bitcoin, Ethereum, stablecoins, and other crypto-based economies such as non-fungible tokens (NFTs) and play-to-earn (P2E) crypto games, as well as traditional financial services such as Visa and Mastercard prepaid virtual cards. As of 2022, the company is operating in countries like Kenya, Nigeria, South Africa, Ethiopia, Uganda, Ghana, Tanzania, Mozambique, India, the Philippines, Ukraine, and Jamaica.

The company plans to use the March 2022 funding to help underbanked and underserved users across Africa participate in the digital economy.

## Funding rounds

- Seed, Mar 1, 2022, $3.5M — Lightspeed Venture Partners, Techstars, EchoVC Partners, Frontier Ventures, Hustle Fund, GP Ventures, North Island Ventures, Republic Capital, Industrious Ventures, New Form, Kraken Ventures, Pax Momentum, Audacity, Formless Capital, Allied Venture Partners, Principle Ventures, Seed9
- Seed, Nov 11, 2021, $1.5M — Hustle Fund, Asymmetry Ventures

## Investors

- Hustle Fund (https://capitalatlas.ai/funds/hustle-fund) — Seed
- Asymmetry Ventures (https://capitalatlas.ai/funds/asymmetry-ventures) — Seed
- Lightspeed Venture Partners (https://capitalatlas.ai/funds/lightspeed-venture-partners) — Seed
- Techstars (https://capitalatlas.ai/funds/techstars) — Seed
- EchoVC Partners (https://capitalatlas.ai/funds/echovc-partners) — Seed
- Frontier Ventures (https://capitalatlas.ai/funds/frontier-ventures) — Seed
- GP Ventures (https://capitalatlas.ai/funds/gp-ventures) — Seed
- North Island Ventures (https://capitalatlas.ai/funds/north-island-ventures) — Seed
- Republic Capital (https://capitalatlas.ai/funds/republic-capital) — Seed
- Industrious Ventures (https://capitalatlas.ai/funds/industrious-ventures) — Seed
- New Form (https://capitalatlas.ai/funds/new-form) — Seed
- Kraken Ventures (https://capitalatlas.ai/funds/kraken-ventures) — Seed
- Pax Momentum (https://capitalatlas.ai/funds/pax-momentum) — Seed
- Audacity (https://capitalatlas.ai/funds/audacity) — Seed
- Formless Capital (https://capitalatlas.ai/funds/formless-capital) — Seed
- Allied Venture Partners (https://capitalatlas.ai/funds/allied-venture-partners) — Seed
- Principle Ventures — Seed
- Seed9 (https://capitalatlas.ai/funds/seed9) — Seed