UAE based crypto asset exchange closes 30 million in series B round
BitOasis announces the closing of its latest round of funding, led by prominent global and regional investors.
UAE based, BitOasis regulated cryptoasset exchange has closed its Series B round of $30 Millionfrom 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.”
Fares Ghandour, Partner at Wamda, added, “BitOasis is testament to the fact that you need passionate founders, a solid team, and a culture of unity to build a resilient and world-class business, and that’s exactly what this company is. Wamda is as proud as ever to back the region’s leading and most credible exchange since their inception .”
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.”
