Abra

remittancesmobile/online remittancepaymentsp2p paymentsblockchain

FOUNDING YEAR: 2014
LOCATION: United States
Last Update: 17/07/2020

Subscribe to the MEDICI Inner Circle Membership and gain access to an exclusive Slack community where you can engage in discussions with global industry experts!

About

Abra is a bitcoin powered digital wallet that allows people to send money for free from their bank accounts, is now available in the U.S. and the Philippines. Users can deposit money into the app either via a linked bank account or by Abra Tellers then funds converted into bitcoin and it transfer to receiver bank's account or nearer to their Teller point.

Focus

PRODUCTS & SERVICES

Blockchain based P2P remittance app. Abra Tellers - Cash deposit/ withdrawl terminals and digital currency exchanger. Abra app is faster, easier and convinent way to transfer funds globally. Abra aims to send money across any two smartphones regardless of location, currency or mobile phone operator, just like WhatsApp does for messaging.

REVENUE MODEL

The company generates revenue by charging a .25 percent fee to a user whenever they transacts with an Abra Teller, and by charging a small fee to the counter-parties involved with the smart contracts.

MAIN CLIENTS

Retail Cryptocurrency investors

EXISTING PARTNERSHIPS

Codapay

Amazon Gift cards

COMMENT

Abra app notifies users about the details of exchange rates before they sending funds to the receiver's account.

Traction

VALUATION / MARKET CAP:

$173 M in 2015

Momentum

FUNDED

YES

TOTAL FUNDING

$47.5 M

DATE OF LAST FUNDING

May 2020

SEED CLOSED ON

Jul 2014

FUNDING SERIES

SERIES A  · $12 M  · Sep 2015

SERIES B  · $18.5 M  · Oct 2017

SERIES C  · $12 M  · Apr 2019

OTHERS  · $5 M · May 2020

LISTED

NO

BASICS

FOUNDING YEAR:

2014

LOCATION:

United States

Views:

563 VISITORS | 1001 VIEWS
LATEST FUNDING ROUND

$47.5 M

TOTAL EMPLOYEES
51-200

About

Abra is a bitcoin powered digital wallet that allows people to send money for free from their bank accounts, is now available in the U.S. and the Philippines. Users can deposit money into the app either via a linked bank account or by Abra Tellers then funds converted into bitcoin and it transfer to receiver bank's account or nearer to their Teller point.

Subscribe to the MEDICI Inner Circle Membership and gain access to an exclusive Slack community where you can engage in discussions with global industry experts!

Focus+
Momentum+
Traction+
People+
Other+

Join the exclusive global FinTech community

Be a part of the global FinTech community on Slack