BitOasis, crypto exchange platform, closes $30m in Series B funding

BitOasis, crypto exchange platform, closes $30m in Series B funding 

By: Abu Dhabi SME Hub
News

The round is co-led by Chicago-based VC firm Jump Capital, along with MENA region’s Wamda.

BitOasis, the Abu Dhabi-based crypto-asset exchange, has wrapped up its Series B round, announcing that it’s closing $30 million in funding from new and existing investors.

The round is co-led by Chicago-based VC firm Jump Capital, along with MENA region’s Wamda, and is set to propel BitOasis on to an accelerated growth trajectory.

The fundraising round also includes new investors, such as Alameda Research and Global Founders Capital, with existing investors such as Pantera Capital, Digital Currency Group, and NXMH.

Ola Doudin, CEO & co-founder of BitOasis said, “Our aim is to build the largest and most trusted cryptocurrency platform in the region, and our latest investment round serves as a vote of confidence in the BitOasis growth story. It further speaks to the state of interest in the MENA region’s growing crypto ecosystem, with global investors and venture capital heavyweights backing the region’s home-grown businesses.”

“This new capital is going to equip us with the resources we need to expand our regional presence while ensuring high standards of regulatory compliance. We work proactively with regulators across the region and will acquire licenses where available.”

Peter Johnson, Partner at Jump Capital, said, “We are thrilled to be backing BitOasis as they continue to scale the leading crypto platform in the Middle East. The company perfectly embodies the elements we seek when investing in international crypto exchanges – an exceptional team that deeply understands the market, a focus on regulatory compliance, and an ability to build a leading consumer brand.”

With geographic expansion plans already on the cards for BitOasis, Ola also touched upon BitOasis’s growth plans for its existing markets.

She commented, “In line with our ambitious growth strategy, we will also be working towards solidifying our presence and refining our product offering in the countries we already operate in. Our team is also working on building strategic partnerships with the public sector to raise the level of awareness around crypto safety in the region. We look forward to sharing more details of our upcoming initiatives very soon.” 

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