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Offline mapping app raises $50m in seed round led by Alameda Research

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Offline mapping app raises $50m in seed round led by Alameda Research, a disconnected planning application that flaunts 140 million clients around the world, has brought $50 million up in a seed subsidizing round drove by Alameda Research with an end goal to fabricate a decentralized money environment inside the guide application.

Different financial specialists including Genesis Trading and CMS Holdings likewise partook in the round, as per a declaration from Alameda on Monday.

The objective is to dispatch an inserted multi-money wallet inside, which gives travel aides and guide benefits just as permits clients to partake in yield-procuring account and to win cashback by means of exchanges through the wallet.

"By inserting and democratizing admittance to yield-procuring money to a huge number of clients through a regular application, can possibly truly push DeFi standard selection and carry a weighty innovation to the majority," said Sam Bankman-Fried, author and CEO of Alameda Research and furthermore crypto trade FTX.

"We're eager to be working with our accomplices to make a DeFi environment on a stage that has just accomplished scale as far as its number of clients, and which will grow administrations that are firmly connected to monetary needs,"Maps.Me's prime supporter Alex Grebnev said in the assertion.

As per the delivery, over 58% of the clients come from the European mainland and over 70% between the ages of 18-40.

JANUARY 17, 2021