The round was led by Pantera and Huobi Incubator, with participation from DWEB3, D21 Ventures, Metaweb Ventures, Fundamental Labs, Proximity, and Genblock Capital.
According to FinSME, Jumbo is an AMM-powered decentralized exchange based on the NEAR Protocol that offers a cheap way for anyone to trade. Jumbo Exchange also employs HAPI, a novel security system that uses know-your-transaction (KYT) technology to ensure safety and security of users.
So far, the exchange has garnered $19.5 in total value locked (TVL), $745 million in cumulative volume, and has a user base consisting of more than 20,000 unique wallets.
The company has revealed its development plans for the new year, including smart route trading, staking and more to come across Q1.The start-up has an office in London and a presence in the Middle East, and has developed a two-sided platform connecting consumers and retail merchants via a smart digital receipt.The e.pop ecosystem delivers merchants and partners uniquely granular insights into consumer behavior as well as new channels by which to engage, advertise and market to existing and new shoppers.
Jumbo intends to use the funds to develop user-friendly design and feature offerings.
https://fintech.global/2023/01/11/jumbo-bags-3-5m-funding/