Square Enix Backs Zebedee in $35 Million Funding Round

The game-industry-focused fintech startup Zebedee raised $35 million in a Series B funding round. It was led by Kingsway Capital,говорится in a press release.

The funding was also provided by Square Enix, known for Final Fantasy and other video games, The Raine Group, and existing investors Initial Capital and Lakestar.

Zebedee is focused on gaming and enables developers to integrate support for the Bitcoin micropayments network Lightning Network.

In early 2021, the startup demonstrated this capability in Valve’s Counter-Strike: Global Offensive shooter. Players could earn Bitcoin rewards for participating in online matches.

In September of the same year Zebedee closed a Series A round of $11.5 million. According to the startup, the user base grew tenfold during that period. With the latest funding, the project has attracted about $50 million.

“We are pleased that we can confidently scale our team and grow the business, even as macroeconomic conditions become increasingly uncertain,” said Zebedee CEO Simon Cowell.

In April 2022, Square Enix president Yosuke Matsuda заявил об интересе компании к блокчейну и NFT.

In May, the company said it planned to to earmark part of the proceeds from the sale of IP rights for $300 million to fund blockchain, AI and cloud initiatives.

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