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Cyndx Insights: Charity and Cryptocurrency

Cyndx Insights: Charity and Cryptocurrency

Humanitarian efforts using cryptocurrency have becoming increasingly popular and are allowing for simple and efficient transmission of funds overseas with fewer intermediary parties.

The emergence of cryptocurrency is also enabling banking services to those people in third world countries who have not been serviced by traditional banking in the past.

We take a look at the investment activity into this market, with some enlightening activity.

 

Investment Activity

 

Cyndx Finder identified 500 companies creating and providing cryptocurrency solutions and platforms for humanitarian efforts. With a median company age of 5 years, we have seen 22 acquisitions and a median acquisition price of $72M.

The most recent acquisition in this sector was Coins.ph in the Philippines, which delivers financial services to people in Asia who are underserved by the traditional banks, and was acquired by Go-Jek for $72M in January 2019.
Recent capital raises have been broad in scope with heavy round investments between $84M and $120M.

 

The Players

We have seen many investments into this crypto market by the Digital Currency Group, Blockchain Capital and RRE Ventures. RRE has made 11 investments into 3 companies.
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