According to Foresight News, Singapore-based remittance company Wind, built on the Polygon network, has completed a $3.8 million pre-seed funding round. The round was led by German venture capital firm Global Founders Capital and Singaporean blockchain investment firm Spartan Group, with participation from Saison Capital, Alumni Ventures, and Tiny VC. The funds raised will be used for product development, strengthening compliance and licensing measures, and other initiatives.
Founded in 2022, Wind is a non-custodial wallet aimed at opening a payment corridor between Southeast Asia and the United States. Users can exchange US dollars for USDC, send it to the Philippines, and then convert it to Philippine pesos. Currently, Wind charges a transaction fee of less than 0.3%. By 2024, Wind plans to focus on steady user growth in existing markets while expanding its network and increasing the number of countries and regions where customers can send and receive funds.
