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The frontman of the British rock band Muse Matthew Bellamy invested in the startup Pebble, which collected $ 6.2 million in seed investments.
Congrats to @aaronbaii, @sahilphadnis4, and the @Pebble_HQ team on their launch today!
Pebble (YC W22) is the app that pays you to save, spend, and send your money — all in one balance: https://t.co/w7cHb9lwmZ
— Y Combinator (@ycombinator) May 23, 2022
Investors also included Y Combinator, Lightshed Ventures, Cadenza Capital, East Ventures, Orange DAO and Global Founders Capital, Odell Beckham Jr. of the National Football League and Richard Ma, CEO of blockchain audit firm Quantstamp.
In the absence of a leading investor, the largest investment came from Lightshed Ventures, said Pebble co-founder and CEO Aaron Bye. At the end of the round, the valuation of the startup reached $ 65 million, he added.
Pebble is developing an application that allows you to receive 5-9% per annum on deposits in the USDC stablecoin.
“The user deposits dollars into the savings account, which Pebble converts to USDC. Subsequently, the coins are transferred to credit partners in the form of a loan. In return, the startup receives a commission, the size of which depends on the market demand for the asset, “the project developers said.
Pebble’s current credit partners are Vauld and Wyre. The partners of the startup in the exchange and depository were respectively Prime Trust and Piermont Bank.
Currently, the Pebble app is in the closed beta stage, in which almost 100 people participate. In the next three months, up to 5,000 users will join the test.
Initially, Pebble will only be available to U.S. residents. By the end of the year, the firm plans to develop the markets of Southeast Asia, including Singapore, the Philippines and Indonesia.
The developers intend to provide customers with 5% cashback in more than 50 partner stores, such as Uber and Amazon. The startup also announced the release of a Mastercard debit card with the possibility of accumulating bonus points.
Recall, according to media reports, in early May, the Blockchain Capital investment fund led a private funding round for the STARTUP SO-COL, co-founded by cryptocurrency influencer Irene Zhao. In total, the project raised $100 million.
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