On December 10th, COINOTAG News reported that Klickl International, a prominent Web3 banking service provider based in the UAE, has successfully secured $25 million in its Series A funding round. This investment elevates the company’s valuation to $1.25 billion. The financing was spearheaded by the Web3Port Foundation and Aptos Labs, with contributions from notable investors such as Summer Ventures, Heritage Horizon Capital, and V2 Capital.
Klickl has ambitious plans for Q4 2024, aiming to unveil two significant initiatives. One involves collaboration with Summer Ventures to create Klickl Labs, which will concentrate on enhancing cross-border remittances and digital payments in rapidly developing markets within the Middle East and Africa. In parallel, the Klickl Foundation will be launched to nurture the Klickl Web3 ecosystem through strategic investments.
Notably, founder and CEO Michael Zhao emphasized that Klickl has received a regulatory license from the Abu Dhabi Global Market (ADGM), marking it as the first fully licensed Web3 banking service in the region, facilitating cryptocurrency custody and brokerage services. Since its inception in 2017, Klickl has been committed to creating a global stablecoin ecosystem that connects digital finance with traditional financial systems.