Nume Crypto Raises Funds From Sequoia Capital India

The startup will first target the US market before moving to other 'crypto-friendly' jurisdictions such as Singapore, Indonesia and other Asian markets

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Nume Crypto has raised $2 million in a pre-seed funding round led by Sequoia Capital India.

Founded by sisters Madhumitha and Niveda Harishankar, Nume Crypto plans to build a near-zero-cost payment gateway to process cryptocurrency payments powered by their Layer 2 scaling platform, which will be built on Ethereum.

The platform aims to eliminate “gas fees” that have become a major problem. Gas fees refer to the fees required to conduct transactions on the blockchain. First, the platform will support Bitcoin, Ethereum and stable coins.

The new funds will be used to build products, find market-fit products and attract customers.

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