Web3 banking service provider Klickl completes $25 million Series A financing

Foresight News reported that Klickl International, a Web3 banking service provider headquartered in the United Arab Emirates, announced the completion of a $25 million Series A funding round, with a valuation of $125 million. The round was co-led by Web3Port Foundation and Labs, with participation from Summer Ventures, Heritage Horizon Capital, V2 Capital, and other institutions. Klickl plans to launch two major projects in the fourth quarter of 2024: Klickl Labs, a joint venture with Summer Ventures focused on building cross-border remittance and digital payment infrastructure in high-growth markets in the Middle East and Africa; and the Klickl Foundation, which will invest in the Klickl Web3 ecosystem. As a strategic partner, Web3Port Foundation will serve as a limited partner in the Klickl Foundation Web3 fund. Klickl founder and CEO Michael Zhao stated that the company has obtained a regulatory license from the Abu Dhabi Global Market (ADGM), making it the first Web3 banking service provider in the region to receive a full license, enabling it to provide cryptocurrency custody and brokerage services. The company was founded in 2017 and is dedicated to building a global stablecoin ecosystem that connects digital finance with traditional finance.