Fedi Raises $17 Million in Series A Round
"Fedi aims to provide a resilient, privacy-protecting, and simple way for people who don’t have access to or don’t trust centralised alternatives to secure and use their data and money."
- "Fedi, Inc., a U.S. based developer of community-empowering financial and data technology, announced today that it has raised $17 million in a Series A round of financing, and is set to pre-launch an Alpha version of Fedi for builders later this month."
- "The financing round was led by Ego Death Capital, with participation from TBD, part of Block, Kingsway, Trammell Venture Partners, and Timechain."
- "The Series A brings the total amount raised by Fedi to $21.21 million. Earlier seed round investors included Ten 31, Hivemind, Steve Lee, and Recursive Capital."
- "Fedi aims to be the world’s first federated operating system. It will empower individuals to collaborate through “federations”—made up of friends, families, neighbours, nonprofit organisations, social clubs, businesses, conferences and other forms of community—to take control of their money, their data, and their digital lives while still protecting user privacy and autonomy."
- "Both Fedi and the open-source protocol on which it is built were originally created for communities facing poverty, oppression, and loss of financial autonomy. Those communities will be important early adopters of the product."
- “We are excited that with so much interest in this round, we were able to select investors who are fully aligned on the future we are trying to create with Fedi, the world’s first federated operating system,” said Fedi CEO Obi Nwosu.
- "Nwosu teased Fedi Alpha, a version aimed at the builder community to be rolled out later in May, promising additional details in the coming weeks."
- "For more information on Fedi, its product, and its vision, visit fedi.xyz/aboutus and fedi.xyz/faq."