Coinomo, a new company of Turn Capital’s acquisition over Dapp Pocket (Taiwan-based crypto wallet) and Cappuu (a yield aggregator service), announced fresh funding with an undisclosed value led by Vertex Ventures Southeast Asia & India (Vertex Ventures SEAI). Also, the beta version of the Coinomo application was released for the Indonesian and Taiwanese markets.
This round involved some investors, including zVentures (a Razer venture company), Spartan Group (a blockchain advisory and digital asset management company), Leo Cheng, and Venture Dao (a decentralized autonomous organization/community-based investment DAO consisting of business founders). Turn Capital’s previous investors also participated in this round.
Vertex Ventures SEAI’s partner, Genping Liu said, “We see an increase in interest and continuous innovative applications in the crypto space. Coinomo allows retail investors to easily participate in the ecosystem based on their investment profile return. This provides significant value by abstracting away complexity and confusion for the general retail user, while also reducing the risk of many projects.
“Vertex considers this as an infrastructure game to facilitate the further development of the cryptocurrency ecosystem. We have known and worked with Joseph and Evie for many years, therefore, we are delighted to be able to support them in this new venture.” Coinomo is Vertex Ventures SEAI’s second investment in the crypto industry after Binance Asia.
Razer zVentures’ Investment Director, Cho Weihao added, “Recently, cryptocurrencies have gained popularity among young people and millennials. As the world’s leading lifestyle brand for gamers, most of whom are millennials, Razer zVentures supports Coinomo’s efforts to create value in this area, as well as evaluating potential synergies.”
Coinomo’s CEO, Evie Zhang said the company wanted to bring its expertise in consumer products to Coinomo. In consumer products, it is closely related to two main elements, which is fun and easy to use. “We keep it in mind to apply to every detail and feature in our product designs.”
Coinomo App
Coinomo works closely with licensees in each country, aiming to become the largest and most used crypto gateway in Southeast Asia. In this region, there is a potential of more than 665 million people to be Coinomo users. Coinomo app’s beta version has a feature that allows users to trade cryptocurrencies and participate in yield products from various return on investment (DeFi) profiles.
With an intuitive interface that easily guides and directs users, they don’t have to spend days learning or getting comfortable with crypto products and spaces. In this beta version, Coinomo offers two product yields, providing a glimpse of more products in the future that are scalable, as well as compliant with a number of risk and return requirements from customers.
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Original article is in Indonesian, translated by Kristin Siagian
