{"id":20623,"date":"2023-05-06T08:38:42","date_gmt":"2023-05-06T08:38:42","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/us-based-bitcoin-focused-startup-fedi-raises-17-million-in-series-a-funding-round-africa-bitcoin-news\/"},"modified":"2023-05-06T08:38:42","modified_gmt":"2023-05-06T08:38:42","slug":"us-based-bitcoin-focused-startup-fedi-raises-17-million-in-series-a-funding-round-africa-bitcoin-news","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/us-based-bitcoin-focused-startup-fedi-raises-17-million-in-series-a-funding-round-africa-bitcoin-news\/","title":{"rendered":"US-Based Bitcoin Focused Startup Fedi Raises $17 Million in Series A Funding Round \u2013 Africa Bitcoin News"},"content":{"rendered":"

(Originally posted on : Bitcoin News )<\/b>
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Fedi, the U.S.-based fintech which is led by the Nigerian bitcoin advocate Obi Nwosu, said on May 3 that it recently raised $17 million in a Series A funding round. The company said it will use the funds to help it launch what it called the \u201cworld\u2019s first federated operating system.\u201d Obi Nwosu said the Fedi Alpha version, which is targeted at the builder community, is set to be rolled out later in May. <\/strong><\/p>\n

\u2018Protecting User Privacy and Autonomy\u2019<\/h2>\n

The United States-based fintech and bitcoin-focused company Fedi announced on May 3 that it has raised $17 million in a Series A funding round. Ego Death Capital led the round that also saw TBD, Kingsway, Trammell Venture Partners, and Timechain taking part. The latest round brings the total funding raised by Fedi to $21.21 million.<\/p>\n

In a statement on its blog<\/a>, the company said it will use the funds to help realize its goal of launching the \u201cworld\u2019s first federated operating system.\u201d According to the statement, Fedi wants the application to allow members of different communities to collaborate and take control of their funds, data and digital lives \u201cwhile still protecting user privacy and autonomy.\u201d<\/p>\n

Obi Nwosu, the founder and CEO of Fedi, is quoted in the statement expressing his satisfaction with the makeup investors that have come on board. He said:<\/p>\n

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We are excited that with so much interest in this round, we were able to select investors who are fully aligned on the future we are trying to create with Fedi, the world\u2019s first federated operating system.<\/p>\n<\/blockquote>\n

Nwosu, a bitcoin advocate, added that he wants the app to enable not just bitcoiners or tech-savvy individuals but anyone attempting to \u201csolve real problems\u201d within their respective community to do so.<\/p>\n

Fedi\u2019s Initial Focus<\/h2>\n

As explained in Fedi\u2019s blog post, the company wants to initially \u201cfocus on a few core functions like securely storing and transacting bitcoin.\u201d Protecting user data as well as ensuring safe and secure communications between community members are also areas that Fedi will focus on, the blog post added.<\/p>\n

In his remarks following Fedi\u2019s announcement, Jeff Booth, co-founder of Ego Death Capital, praised the bitcoin-focused company\u2019s offering which he said enables users to \u201ctake back control of everything that matters in [their] digital life.\u201d<\/p>\n

Meanwhile, Nwosu is quoted in the blog stating that his company is hoping to unveil details about the Fedi Alpha version which is targeted at the builder community. According to the post, Fedi hopes to roll out this version sometime in May.<\/p>\n

Register your email here to get a weekly update on African news sent to your inbox:<\/em><\/p>\n

What are your thoughts on this story? Let us know what you think in the comments section below. <\/strong><\/em><\/p>\n

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\nTerence Zimwara <\/h6>\n

\nTerence Zimwara is a Zimbabwe award-winning journalist, author and writer. He has written extensively about the economic troubles of some African countries as well as how digital currencies can provide Africans with an escape route.

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Image Credits<\/b>: Shutterstock, Pixabay, Wiki Commons<\/em><\/p>\n

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Disclaimer<\/strong>: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com<\/a> does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.<\/p>\n<\/div>\n

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