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Frex Secures $1.05 Million Pre-Seed Funding for Blockchain Remittance Platform

India-based startup Frex announces pre-seed round led by Zeropearl VC and White Venture Capital to expand blockchain-powered real-time remittance services for migrants and overseas workers.

Summary

India-based blockchain remittance startup Frex has raised 95 million INR ($1.05 million) in a pre-seed funding round led by Zeropearl VC and White Venture Capital. The funding aims to enhance Frex’s blockchain-driven platform, which partners with local banks to provide real-time cross-border remittances for migrants and overseas workers.

Terms & Concepts
  • Blockchain remittance: The use of blockchain technology to enable faster, cheaper, and more secure cross-border money transfers.
  • Pre-Seed round: An early stage funding round used by startups to develop products and gain initial market traction before larger investment rounds.